Anglo American shareholders would own 62.4 per cent of shares under the deal, while holders of Vancouver-based Teck would own 37.6 per cent of the combined company. The merged entity would be headquartered in Canada with Anglo American chief executive Duncan Wanblad as CEO. Anglo shares rose by about nine per cent in Tuesday trading while Teck shares were up about 11 per cent. (The Logic)

Talking point: Anglo Teck aims to be one of the world’s largest copper producers. Rising copper prices have led to a whirlwind of mining megamergers over the last few years, as companies scramble to provide metal for the world’s rapidly expanding electrical grid. Both Anglo American and Teck have been targets of takeover attempts. Teck’s deal to sell assets to Glencore last year prompted Ottawa to tighten merger and acquisition rules for Canada’s domestic supply of critical minerals. Industry Minister Mélanie Joly said she will be reviewing the Anglo Teck deal.