Glass Lewis recommends Teck to vote in favor of Anglo merger

Independent proxy advisory firm Glass Lewis on Friday recommended Teck Resources shareholders to vote in favor of a deal to combine with Anglo American.

The planned merger, which was first announced in September, marks the copper mining sector’s second-biggest M&A deal ever, with the combined market capitalization exceeding $53 billion.

Glass Lewis said in a report that the terms of the merger appear reasonable for Teck shareholders.

Adding further that the deal offers Teck shareholders the chance to join a larger, more diversified critical-minerals group with increased copper exposure, significant synergy potential, and stronger long-term growth prospects than it could achieve alone.

The shareholder vote is expected to take place on December 9.

(By Pranav Mathur; Editing by Alan Barona)