The Canadian government has allowed the national security review period for Anglo American’s proposed takeover of Teck Resources to lapse without extension, effectively clearing the deal on security grounds, according to the Globe and Mail. While this removes a key hurdle for the merger, Ottawa must still determine whether the transaction provides a net economic benefit to Canada. Industry Minister Mélanie Joly has not yet commented on the development. Shareholders of both companies are set to vote on the proposed combination on December 9 in London and Vancouver. The takeover would create one of the world’s largest copper producers if ultimately approved.
