Anglo American agrees mining mega merger; Londoners face commuting struggles as tube strike enters second day business live

"Anglo American's merger with Teck Resources is its latest strategic pivot that cements copper at the heart of its portfolio. With over 70% copper exposure and a top-five global position, the combined group is positioned to ride the structural demand story tied to electrification and energy transition. The $800m in annual cost synergies and $1.4bn EBITDA uplift from Chilean asset integration are compelling. But the real prize is growth optionality, leveraging a pipeline of brownfield and greenfield projects across the Americas."

"For Anglo investors, the $4.5bn special dividend sweetens the near-term picture, while the long-term upside hinges on execution and a green light from the regulator. Back-of-the-hand maths suggests Teck holders are getting a healthy premium from the deal, and shares of the Canadian miner have soared in after-hours trading. Teck shares jumped by nearly 24% in after-hours trading as speculation swirled that the companies were close to a deal after a Bloomberg News article."

"The London-listed miner Anglo American is to merge with Canada's Teck Resources, in a deal that will create a $53bn (39bn) giant but raises fears of job cuts. It is the biggest mining deal in more than a decade. The FTSE 100 company said it had agreed a merger deal to create a global critical minerals champion and one of the world's biggest copper producers. The combined market value of both companies is more than $53bn."

Anglo American will merge with Canada's Teck Resources to form a combined group valued at over $53bn, creating one of the world's largest copper producers. The merged entity will have more than 70% copper exposure and a top-five global position, targeting structural demand from electrification and the energy transition. Expected benefits include $800m in annual cost synergies and a $1.4bn EBITDA uplift from Chilean asset integration. The deal offers growth optionality via brownfield and greenfield projects across the Americas and includes a $4.5bn special dividend, while long-term gains depend on execution and regulatory approval.

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