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Investing.com -- Shareholder advisory firm Glass, Lewis & Co. has recommended that investors of Teck Resources Ltd. and Anglo American Plc vote in favor of their proposed merger.
The recommendation supports a deal that would be among the largest in mining industry history, creating a $50 billion producer of copper, zinc and other metals across multiple continents. Shareholders are scheduled to vote on the transaction on December 9.
In a report released on Friday, Glass Lewis stated that the merger terms "appear reasonable for Teck shareholders." The advisory firm noted that "the transaction provides the opportunity to participate in a substantially larger and more diversified critical-minerals group with enhanced copper exposure, significant disclosed synergy potential and a broader long-term growth profile than Teck could achieve on a standalone basis."
Before completion, the merger still requires approval from regulators in several countries including China, the United States and Canada.
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