Teck Resources confirms election window for shareholders now open ahead of Anglo merger
As global mining giants Teck Resources and Anglo American finalise a "merger of equals" plan of arrangement, Teck has mailed a letter of transmittal and election form to each registered holder of its Class A common shares and Class B subordinate voting shares.
The letter of transmittal explains how to exchange Teck shares for the consideration under the merger and, for eligible Canadian Teck shareholders, how to elect to receive the exchangeable share consideration under the merger.
Under the merger, each Teck share will be exchanged for 1.3301 ordinary shares of Anglo American, or, for eligible Canadian shareholders who so elect, the exchange ratio of exchangeable shares of Anglo Teck Exchangeco Limited.
The letter of transmittal is for use by registered shareholders only, Teck explains.
Beneficial (non-registered) shareholders whose Teck Shares are registered in the name of an intermediary such as a broker, investment dealer, bank, trust company, trustee, nominee or other intermediary should not use the letter of transmittal but rather should contact their intermediary for instructions and assistance in depositing their Teck shares and, if applicable, in making an election as to the form of consideration they wish to receive.
Every intermediary has its own procedures with respect to depositing Teck shares pursuant to the merger and making an election and may have an earlier deadline.
With the election window now being open, registered shareholders may begin depositing their completed letters of transmittal immediately. An election deadline has not yet been determined.
Registered shareholders are strongly encouraged to read Teck’s management proxy circular dated November 3, 2025, including the appendices attached thereto and the documents incorporated therein by reference, before completing the letter of transmittal.
Shareholders should also carefully review the instructions contained in the letter of transmittal.
The circular and a copy of the form of letter of transmittal are each available under Teck’s issuer profiles on SEDAR+ at www.sedarplus.ca, EDGAR at www.sec.gov and on Teck’s website at www.teck.com.
