Nil Premium Merger Of Equals Is Strategically Excellent For Anglo, Says Analysts
Anglo American plc (OTC:NGLOY) announced Tuesday that it has agreed to a merger of equals with Teck Resources (NYSE:TECK), creating a combined mining group valued at approximately $55 billion.The new company, Anglo Teck, will be headquartered in Vancouver, with a primary listing in London and secondary listings on the TSX, JSE, and NYSE.The deal comes at a nil premium, a structure JPMorgan called “strategically excellent” for Anglo, with Anglo shareholders set to receive a $4.5 billion special dividend prior to completion.Also Read: What’s Going On With Teck Shares Tuesday?Following the merger, Anglo shareholders ...Full story available on Benzinga.com
