Teck surges 8% premarket on $53 bn merger with Anglo American
Teck Resources jumped over 8% premarket after agreeing to merge with Anglo American in a $53 billion deal,forming Anglo Teck Group. Teck shareholders get a 17% premium and will own 37.6% of the new firm, with Anglo holders at 62.4%. HQ will be in Canada, listing in London. The merger boosts copper output past 1million tonnes, with $800 million in expected annual synergies.