Anglo American and Teck Merge to Form Copper-Producing Giant
Anglo American and Teck have approved a merger, creating one of the top five global copper producers, with aims to achieve $800 million in annual synergies and increased output.
The merger combines world-class assets across Canada, the US, Latin America, Southern Africa, and Europe, with Anglo American and Teck shareholders owning approximately 62.4% and 37.6% of Anglo Teck plc, respectively.
- The merger is expected to deliver pre-tax recurring annual synergies of $800 million.
- An additional $1.4 billion of underlying EBITDA synergies is anticipated between the adjacent Collahuasi and Quebrada Blanca operations in Chile, on an average pre-tax annual basis from 2030-2049.
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Author's summary: Anglo American and Teck merge to form a top copper producer.