Anglo American is close to acquiring Canada’s Teck Resources in a mostly stock transaction that could value the company at about $20bn in one of the mining industry’s largest deals, said people familiar with the matter.
A deal could be announced as soon as this week, three of the people said, although they warned the takeover could still fall apart.
Teck has a $17bn market capitalisation. Its shares rose 23 per cent in after-hours trading in New York.
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