Canada’s antitrust regulator will conduct a review of the proposed $53 billion merger between British miner Anglo American and Canadian company Teck Resources, the Competition Bureau confirmed on Monday.
Marianne Blondin, senior communications adviser at the Bureau, said in an emailed statement, “I can confirm that the proposed Teck–Anglo merger will be reviewed by the Competition Bureau”, Reuters reported.
The merger, announced earlier this month, would rank as the second-largest transaction in the global mining sector. In Canada, Anglo American operates a diamond mine, while Teck Resources runs the Highland Valley Copper mine in British Columbia, making the merger particularly significant for the domestic mining market.
As part of its review, the Competition Bureau will assess the potential anticompetitive effects of the proposed transaction. This includes consulting suppliers, competitors, and purchasing groups to determine whether the merger could reduce competition, influence pricing, or limit market access for other participants.
The Bureau’s investigation is a standard step in Canada’s regulatory framework for mergers that may have significant market impact. Companies involved are required to provide relevant information and may be asked to offer remedies if the merger raises competitive concerns.
Teck Resources has not provided a comment on the merger or the regulatory review, and Anglo American did not respond to requests for additional details.
