Anglo American and Teck shareholders approve their merger

Teck said 99.7% of votes cast by its Class A holders and 89.7% by its Class B holders backed the plan of arrangement, well above the two-thirds threshold for each class. Anglo shareholders approved the new share issue and the change of name to Anglo Teck. Regulatory approvals were still needed in several countries.

Why it matters. With dual-class shares, each class votes separately, so both must clear the threshold.

Source

Mining Weekly

In the course

Module 15: Case study: Anglo American and Teck