Articles for tag: Anglo American, Palliser Capital, Teck Resources

November 12, 2025

Bay St Signal Editors

Palliser presses Rio for richer Teck bid

Bay Street has a fresh M&A cliff-hanger. Activist fund Palliser Capital wants Rio Tinto to rip up Anglo American’s proposed US$53-billion “nil-premium” merger with Teck Resources and table a sweeter offer. In an Oct. 17 letter to Rio’s board seen by Reuters, the London hedge fund argued the Anglo deal undervalues Teck, hands Anglo shareholders 62.4 percent of the combined stock and, crucially, leaves the door wide open to a rival bid. Teck’s shares spiked 25 percent when early deal chatter surfaced, then slipped once investors learned no premium was coming, a reaction that underscores the valuation gap. Nil premium

November 6, 2025

Bay St Signal Editors

Keevil Backs Anglo Bid, Control Questions Rise

The Keevil family, which controls Teck Resources by owning 79.8% of its “super-voting” shares, has approved a $53 billion merger with Anglo American. This share-swap deal will leave Anglo American’s (London-based) investors with a 62.4% majority stake in the new, combined company. Two years ago, Norman Keevil swatted away Glencore’s US$23 billion pitch with “Canada is not for sale.” Today, one of the country’s most diversified miners is headed for foreign control and no one is paying a takeover premium. Shareholders See Thin Value Teck B-share investors get 1.3301 Anglo shares, bang on the market line. There is no 20-

October 22, 2025

Bay St Signal Editors

Blind Eye Claims Cloud Anglo Teck Merger

Anglo American’s past failure to police De Beers at Ontario’s Victor diamond mine now threatens its US$70 billion “merger of equals” with Teck. Indigenous advocate Charles Hookimaw warns Ottawa that the company’s record shows promises can slide once regulators approve deals, directly challenging Anglo American’s pledge to honour every Canadian community agreement in its pitch to form Anglo Teck press release, 8 Sept 2025. Proving Commitments Matters Hookimaw, who managed lands and resources for Attawapiskat during the Victor mine’s life, outlined his objections in an early-October letter that Industry Minister Mélanie Joly must review before ruling on the merger’s “net

October 17, 2025

Bay St Signal Editors

With Industries  Moving Away, is Mining Next? The Teck and Anglo Test for Canada

This week, Ottawa threatened legal action after Stellantis said it would move it’s Jeep Compass assembly plant to Illinois. Stallantis made the move while outlining a 13 billion US dollar expansion in the United States. When incentives and politics shift, companies move first and argue about contracts after. With that lens, the Teck and Anglo deal looks like Canada may be trading leverage for scale, a trade that might only work for the country AND shareholders if safeguards are specific and enforceable. The share split, the trust blocks inside Anglo, and the asymmetric voting thresholds all tilt influence toward London.