Teck clears court hurdle in Anglo American merger process
Canadian miner Teck Resources has secured final court approval for its proposed merger of equals with Anglo American.
The Vancouver-based miner reported on Friday that the Supreme Court of British Columbia had granted a final order approving the previously announced plan of arrangement under Canada’s Business Corporations Act, which underpins the proposed merger between Teck and Anglo American.
While the court approval removes a major legal condition, the transaction remains subject to the satisfaction or waiver of a number of other customary closing conditions. These include competition and regulatory approvals across multiple jurisdictions.
The court decision follows recent shareholder approvals. If completed, the merger would create a mining major with a strengthened copper portfolio.