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Teck Announces Filing of Meeting Materials for Special Meeting of Shareholders seeking Approval of Merger of Equals with Anglo American

TECK
  • Teck Resources Limited will hold a special shareholder meeting on December 9, 2025, to vote on a proposed merger of equals with Anglo American plc.
  • The Teck Board of Directors unanimously recommends that shareholders vote "FOR" the merger.
  • The combined entity, named Anglo Teck, will be headquartered in Canada & become a top five global copper producer.
  • Teck shareholders will own approximately 37.6% of the combined company on a fully diluted basis following the merger.
  • The merger terms involve an all-stock consideration allowing shareholders to participate in future value upside.
  • Key operational highlights include six world-class copper assets, one of the largest zinc mines, & two premium iron ore operations.
  • The transaction is expected to generate approximately US$800 million in pre-tax recurring annual synergies & US$1.4 billion in underlying annual EBITDA synergies from adjacent Collahuasi & QB operations.
  • Combined copper production is projected at 1.2 million tonnes currently, expected to grow to approximately 1.35 million tonnes by 2027.
  • The merger was announced in September 2025 & is expected to close within 12-18 months subject to regulatory & shareholder approvals.
  • Major stakeholders, including Temagami Mining Company Limited, SMM Resources Incorporated, & Dr. Norman B. Keevil, support the merger & hold approximately 79.8% of Teck Class A common shares.
  • The meeting will take place at Suite 400-550 Burrard Street in Vancouver & virtually via a provided link on December 9, 2025, at 11:00 a.m. Pacific Time.
  • The record date for determining voting eligibility is October 20, 2025.