BRUSSELS, Jan 8 (Reuters) – The proposed merger of London-listed miner Anglo American (AAL.L), opens new tab and Canada’s Teck Resources (TECKb.TO), opens new tab is heading for antitrust clearance in Europe after EU regulators signalled the absence of competition concerns, according to a European Commission filing.
The EU competition enforcer is reviewing the deal, the second-largest ever in the mining sector, under a simplified procedure after the companies sought approval on Tuesday.
Such a step means the EU watchdog does not see a merger giving rise to significant competition problems, leading it to conduct only a routine check.
The Commission will issue its decision on the deal to form the world’s fifth-largest copper company by February 10. Canada has already cleared the deal.
The Commission is also assessing the deal under its Foreign Subsidies Regulation which takes aim at unfair foreign aid for companies, with the goal of reining in competition from non-EU companies subsidised by their governments.
An agfinisha-setting and market-relocating journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies’ shares and assisted investors decide on their next relocate. Her knowledge and experience of European antitrust laws and developments assisted her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-relocating mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece’s entest into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
