Anglo American ADR

Anglo American and MMG have offered concessions to the EU antitrust authority to secure approval for the sale of the Brazilian nickel business to MMG. A subsidiary of MMG intends to pay up to $500 million in cash. Anglo American proposes to buy ferronickel from MMG and supply it to Europe for up to ten years. The European Commission has set a deadline of 4 November to decide or to open an in-depth investigation. » More on finanzen.net

Anglo American announces the conversion rates for the previously announced interim dividend of 7 US cents per ordinary share. The equivalents are 5.165 pence per share and 5.964 euro cents per share, based on exchange rates of US$1:£0.7378 and US$1:€0.8520, which were achieved through foreign exchange forward contracts in the three business days before the announcement. The payment date remains 30 September 2025; previously announced values for ZAR and BWP remain unchanged. » More on de.investing.com

Anglo American and Teck Resources struck a merger of equals to form Anglo Teck, with Anglo shareholders receiving 62.4% of the combined company and a $4.5 billion special dividend. The deal centers on adjacent Chilean copper mines Collahuasi and Quebrada Blanca, which should deliver about $1.4 billion in annual pre-tax synergies and make copper roughly 70% of future earnings. Anglo Teck will be headquartered in Vancouver, target combined copper output near 1.2 million tonnes a year, and the transaction is expected to close in 12–18 months. Management will be led by Duncan Wanblad as CEO with Teck’s Jonathan Price as deputy. » More on forbes.com