Anglo American Plc is nearing a deal to acquire Canada’s Teck Resources Ltd. in what could be the biggest mining deal in more than a decade — and just over a year since Anglo was subject to a takeover bid itself.
London-listed Anglo American is in advanced talks on a potential purchase of Teck Resources and could announce a transaction as early as this week, according to people familiar with the matter, who asked not to be identified because the information is private. Teck shares jumped more than 20% in post-market trading in New York.
A combination of the two companies would rank among the biggest ever in the mining industry, and mark the culmination of several years of revived dealmaking activity among the largest players. Shares of Teck Resources had fallen roughly 20% in Toronto trading over the past 12 months, giving the company a market value of about C$23.7 billion ($17.1 billion). Anglo…
