Ottawa lawmakers won concessions over a megadeal between a domestic copper producer and a London-listed group.
Canada cleared the way for a USD 43.2bn Anglo Teck merger, with Ottawa lawmakers winning concessions over megadeals between a domestic copper producer and a London-listed group. This was despite broad investor backing. The zero-premium deal between Anglo American and Teck Resources had created unease among Canadian politicians.
The government has approved the USD 43.2bn merger between Anglo American and Teck Resources. This clears a key hurdle for the companies to form one of the world’s largest copper producers as demand for the metal surges.
London-listed Anglo announced last week, on Tuesday, 16 December 2025, that Canadian lawmakers had backed its planned tie-up with Vancouver-based Teck, which had won broad support from both companies’ shareholders in votes last week.
The share prices of both companies have reflected a rise since the planned deal was announced. It has reflected a drive up their combined market value to about USD 43.2bn on Tuesday last week.
While backed by investors, the zero-premium deal sparked unease among some Canadian politicians. They had been more circumspect about whether it would benefit the country and had the ability to block the transaction.
Industry Minister Melonie Joly cleared the merger on national security grounds last month in November. However, lawyers still needed to conclude that the deal would economically benefit Canada under the takeover regulations that were tightened 2 years back in 2023.
In a statement on X, Joly declared that this deal represented a significant victory for Canada. It would secure 4,000 jobs in the country. The deal involved a USD 3.24 billion spending plan that spans a period of 5 years.
Joly opined that Anglo Teck has its global headquarters in Vancouver and was likely to be a truly Canadian champion on a global stage.
