Tektronix and Anglo-American Resources Group merge, global copper giants rise

Teck Resources announced the merger with Anglo American to form Anglo Teck, the world's fifth largest copper manufacturer, with copper business accounting for more than 70%. After the merger, Tektronix's share price soared. The merger adopts an "equal merger" structure, which is expected to generate an annual pre-tax synergy of $800 million by the fourth year and an EBITDA synergy of $1.4 billion between 2030 and 2049, increasing annual copper output by 175,000 tons. Anglo-American Resources Group shareholders will hold 62.4% of the new company, which will be listed on several global exchanges and invest at least CAD 4.5 billion in Canada over the next five years. The transaction is subject to regulatory authorities and shareholders' approval.