Nice deal if it happens – but Anglo Teck is also an invitation to other bidders

The proposed $53bn merger looks logical in its own terms but it is far from being a done dealAnglo American to merge with rival Teck in $53bn mining groupAnglo American, of the FTSE 100 index, and Canadian group Teck Resources, would like you to think of their proposed $53bn (£39bn) combo as “a true merger of equals”, which it obviously isn’t because the UK-listed company is about twice the size. Anglo’s shareholders, even after they’ve been paid $4.5bn via a special dividend to even up the ratios a bit, will still emerge with 62.4% of the new company.But it is a merger in the sense that Anglo isn’t paying a meaningful takeover premium to get the deal done – just a token one of 2%. That looks a smart piece of deal-making on the part of Anglo chief executive Duncan Wanblat. Continue reading...

Comments

Business News

New Business Secretary Peter Kyle to reopen UK-China trade talks in Beijing

Evening Standard

The terrifying signals that have left me convinced Rachel Reeves is about to axe vital tax breaks on pensions: JEFF PRESTRIDGE

about 2 hours ago

Dailymail

Are YOU rich and do you earn more than your neighbours? Our calculator reveals how your salary stacks up for your town and job

about 2 hours ago

France labelled 'a problem child for the bond markets' as borrowing rockets on confidence vote

Dailymail

I'm a New Yorker who spent 48 hours in Berlin for the first time. 7 surprises made me sure I'll return for a longer trip.

about 4 hours ago

Reeves warned decision by mining giant to close London HQ in favour of Canada is ‘a wake up call’

Independent

Comments

Similar News

The Cast And Creators Of ‘The Buccaneers’ Talk Season 2: ‘It Feels So Nice To Come Back To It’

Business News

New Business Secretary Peter Kyle to reopen UK-China trade talks in Beijing

First Minister has met President Trump to discuss whisky tariffs

‘Godfather of AI’ warns tech will bring massive unemployment: ‘A few people much richer and most people poorer’

JPMorgan CEO Jamie Dimon warns US economy is ‘weakening’ after jobs revision

Ford Recalls 1.45 Million Vehicles Over Rearview Cameras Displaying ‘Blank’ Or ‘Distorted’ Images

Chicago Bulls Re-Sign Josh Giddey To A Deal Striking A Needed Balance

Suspect In Stabbing Of Ukrainian Refugee Faces Federal Charge—As Trump Puts Attack In Culture War Spotlight

Solving MLB’s Salary Cap Battle

Want To Buy 2026 FIFA World Cup Tickets? The Process Starts Sept. 10

BTS Breaks Back Into The Top 10 With A Years-Old Fan-Favorite

This AI Startup Is Training The Next Generation Of Accountants

Injuries Like Daniel Palencia Hurting Chicago Cubs’ Playoff Picture

Anglo American goes big on copper - but will its rivals now look to get in on the act? asks ALEX BRUMMER

National Express owner Mobico crashes to record low after drop in half-year earnings

HSBC and Standard Chartered slammed in pensions row: MP hails Mail reports on Hong Kong scandal

Anglo American to quit London HQ after agreeing £40bn copper mega- merger with Canadian rival

We want out of Magnum spin-off, Ben & Jerry's founders tell parent company Unilever

My Chinese takeaway turned up cold -should the restaurant or delivery firm reimburse me? DEAN DUNHAM replies

Cheeky duty free bag trick to bust your hand luggage allowance (and get around Ryanair's harsh new £75 penalty!)

The terrifying signals that have left me convinced Rachel Reeves is about to axe vital tax breaks on pensions: JEFF PRESTRIDGE

Are YOU rich and do you earn more than your neighbours? Our calculator reveals how your salary stacks up for your town and job

France labelled 'a problem child for the bond markets' as borrowing rockets on confidence vote

Frank founder Charlie Javice cites fertility struggles, Holocaust-surviving grandmother, in bid for no prison

The cheapest 'Pro' version of Apple's new iPhone is now $100 more expensive &mdash; but you get more storage

Snapchat and Instagram are starting to chase the same growth strategy

Supreme Court agrees to hear challenge to some of Trump's sweeping tariffs

Supreme Court says it will weigh in on Trump's tariffs

First Minister has met President Trump to discuss whisky tariffs

Proposed $70B Teck, Anglo American merger would see mining giant HQ in Vancouver

Supreme Court to decide if Trump's global tariffs are legal

What Travelers Need to Know About the Upcoming Strike in France

Why Mark S. Zuckerberg Is Suing Facebook’s Parent Company

Supreme Court Agrees to Review Trump’s Sprawling Tariffs

First Minister has met President Trump to discuss whisky tariffs

Ferrari evokes spirit of 1980s with new 849 Testarossa hybrid

ALL(H)OURS Sets The Clock And Tone For EP Album, “VCF”

Fantasy Football Stock Report Week 2: 5 Risers And Fallers

Josh Giddey And Chicago Bulls Agree On $100 Million Contract

The Perfect 100% Critic Scored Amazon Prime Show Few People Know About

New York Mets’ Prospect Jack Wenninger Becoming A Reliable Winning-er

Apple Announces iPhone 17 Models—What We Know About The Newest Products

How ‘Conjuring: Last Rites’ Inspired Vera Farmiga’s Haunting New Song

White House Says It Would ‘Support’ Analysis Of ‘Donald’ Signature In Epstein Book—As Trump Denies It’s His

Ukraine And Russia Race To Deploy Advanced Interceptor Drones

Jaguar Land Rover getting 'daily' support as workers told to stay at home

Here are all the big product announcements from Apple's iPhone 17 event

I'm a New Yorker who spent 48 hours in Berlin for the first time. 7 surprises made me sure I'll return for a longer trip.

Reeves warned decision by mining giant to close London HQ in favour of Canada is ‘a wake up call’

Ontario gas prices climb, erasing consumer carbon pricing repeal savings

How tariffs could force Apple to raise prices for iPhones, other products

Ontario electric vehicle plant to reopen at less than half its capacity

Business chiefs urge Trump to ease up on immigration crackdown after Georgia raid

Shows Created by Women Rise Sharply, but Only on Streaming TV

US Poverty Rate Was Stable in 2024, as Household Income Rose Slightly

Apple reveals next generation of iPhone 17s, including super-thin ‘iPhone Air’ at keynote event

Don Lemon denies ex-CNN colleague Chris Cuomo’s claim that their ‘bromance’ was fake

Jobs growth revised down by staggering 911K — all but sealing case for Fed to cut rates next week

Georgia judge to toss landmark racketeering charges against 'Cop City' protesters

Russia’s Desperate Pivot: Gas Pipeline Signals Subordination To China

White House Blames Biden For Downward Revision To Jobs Numbers

The cheapest 'Pro' version of Apple's new iPhone is now $100 more expensive — but you get more storage