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EU Regulators Greenlight Anglo American-Teck Merger
9 Jan
Summary
- EU regulators signal no competition concerns for Anglo American-Teck merger.
- The deal forming the world's fifth-largest copper company is under review.
- European Commission decision on the merger is expected by February 10.
The proposed merger between miners Anglo American and Teck Resources is advancing toward antitrust clearance in Europe, as EU regulators have indicated no significant competition issues. The European Commission is reviewing the deal, which, if successful, will establish the fifth-largest copper company globally. This review is proceeding under a simplified procedure, suggesting a routine check rather than an in-depth investigation.
Canada has already granted its approval for the merger. The European Commission's decision is expected by February 10. Alongside the standard antitrust review, the Commission is also assessing the transaction under its Foreign Subsidies Regulation, aimed at curbing unfair competition from non-EU companies benefiting from government subsidies. The deadline for this specific assessment is February 3.
Anglo American and Teck Resources jointly announced their intention to merge in September of the previous year. The simplified review process by the EU watchdog implies that the merger is unlikely to raise substantial competition problems within the European market, paving the way for its potential final approval.
