"Industry Minister Melanie Joly has approved a merger between Canadian natural resources company Teck Resources Ltd. and Britain's Anglo American PLC. Joly said in a statement that she has determined the merger will be a net benefit to Canada and called it a "significant win." Teck and Anglo American announced the approval in separate statements, referring to the deal as a "merger of equals," even though Anglo American is worth more than double Teck's value."
"Shareholders last week gave their blessing to the plan, which was first announced in September, to create Anglo Teck, a $70-billion copper mining powerhouse. WATCH | Teck announces massive merger in September: It's a massive shake up in the world of mining. Two giants joining to become one and headquartered right here in B.C. Jenifer Norwell has more on the winners and losers in the Teck-Anglo American marriage."
"Great news for BC - new mining giant Anglo Teck will be the largest company in our province's history. They'll help unlock prosperity in the Northwest and deliver good jobs and benefits across the province. Welcome Anglo Teck!https://t.co/avncfdksHm—Dave_Eby In a post on social media, B.C. Premier David Eby called the move "great news." "New mining giant Anglo Teck will be the largest company in our province's history," he said. "They'll help unlock prosperity in the Northwest and deliver good jobs an"
Industry Minister Melanie Joly approved the merger and determined the merger will be a net benefit to Canada. The transaction combines Teck Resources and Anglo American to form Anglo Teck, a $70-billion copper mining company. Shareholders approved the plan that was first announced in September. The new company's global headquarters and most executives and board members will be in Vancouver. The companies committed to secure about 4,000 Canadian jobs and spend $4.5 billion in Canada over five years. The federal government framed the deal as strengthening Canada's economy, and B.C. leaders described Anglo Teck as a major boost for the province.
Read at www.cbc.ca
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