Teck Resources’ Highland Valley Copper Mine near Logan Lake, B.C., on Thursday. Teck’s merger with Anglo is expected to take 12 to 18 months to complete.DARRYL DYCK/The Canadian Press
Teck Resources Ltd. TECK-B-T is facing significant resistance from institutional investors as it pitches a merger with London-based Anglo American PLC NGLOY, in part because the deal will see one of Canada’s largest miners dropped from the country’s flagship stock index.
Teck needs shareholder and government approval for its proposed $20-billion union with London-based Anglo, which would see the combined company headquartered in Vancouver. The new entity, called Anglo Teck, plans to incorporate in London and have its primary share listing on the London Stock Exchange (LSE).
Teck’s biggest shareholders are unhappy with marriage of two miners that lacks the premium on the stock price that is typically associated with…
