Freshfields advises Teck Resources Limited on $53 billion sale to Anglo American plc

Teck Resources is a Canadian resource company that is combining with Anglo American in a merger of equals to create Anglo Teck, which the parties describe as a global critical minerals champion.
The transaction will be implemented through a Canadian plan of arrangement under which Anglo American will issue ordinary shares to existing Teck shareholders, with eligible Teck holders able to elect exchangeable shares in a Canadian Anglo American subsidiary instead.
Closing is targeted for 2026, subject to shareholder and regulatory approvals, and the combined group is expected to generate US$800 million of pre-tax recurring annual synergies; post-closing, Anglo Teck will be headquartered in Canada with a primary London listing and secondary listings in Johannesburg, Toronto and New York via ADRs.

Teck Resources is a Canadian resource company that is combining with Anglo American in a merger of equals to create Anglo Teck, which the parties describe as a global critical minerals champion.
The transaction will be implemented through a Canadian plan of arrangement under which Anglo American will issue ordinary shares to existing Teck shareholders, with eligible Teck holders able to elect exchangeable shares in a Canadian Anglo American subsidiary instead.
Closing is targeted for 2026, subject to shareholder and regulatory approvals, and the combined group is expected to generate US$800 million of pre-tax recurring annual synergies; post-closing, Anglo Teck will be headquartered in Canada with a primary London listing and secondary listings in Johannesburg, Toronto and New York via ADRs.

Deal Overview