Dec 8 (Reuters) – Anglo American said on Monday it had withdrawn a proposal to change executive directors’ bonus awards from a shareholder vote on its merger with Canada’s Teck Resources, after investors raised concerns about the policy. Anglo American said the merger remained conditional only on approval to issue new shares, not on the […]
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Anglo American withdraws executive pay resolution ahead of Teck merger vote
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Dec 8 (Reuters) – Anglo American said on Monday it had withdrawn a proposal to change executive directors’ bonus awards from a shareholder vote on its merger with Canada’s Teck Resources, after investors raised concerns about the policy.
Anglo American said the merger remained conditional only on approval to issue new shares, not on the executive pay changes, adding that the remuneration committee will further consult shareholders on an updated pay policy at the 2026 annual general meeting.
The proposed $53 billion deal, one of the biggest in the mining industry, would create a copper giant. But the deal, due to its size, needs a nod from several regulators, including Canada.
Teck shareholders are scheduled to vote on the merger on December 9.
(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich)