Anglo and “Tech” are a giant mining of $ 53 billion

Anglo American

Canadian Anglo Angel -American’s competitor, Tik Resources, agreed to integrate to the establishment of Anglo Tech, at a value of $ 53 billion, the largest merger in the mining sector for more than a decade.

The two companies added that the new company, Anglo Tech, will take its headquarters, with a major listing in London.

According to the agreement’s plan, Angelo American will pay 1,3301 normal shares for each of the Tick -A and Class, in a deal that represents a bonus of 17 percent on the closing price of the Canadian Mining Company shares on Monday, according to Bloomberg accounts.

Anglo will also pay for its investors a special dividend of $ 4.5 billion before completing the merger, which means that the actual bonus will be only 1 percent. On Tuesday, the two companies announced the deal as a deal without a bonus.

Anglo Tech will be included in London, New York, Johannesburg and Toronto stock exchanges.

The company’s global headquarters is scheduled to be in Vancouver, as well as offices in London and Johannesburg.

After the merger, the Anglo -American and Tik holders will own 62.4 percent and 37.6 percent of Anglo Tech shares respectively.

The two companies intend to invest $ 4.5 billion ($ 3.3 billion) in Canada within five years to support copper mining, mineral treatment, innovation and job growth.

Before the merger, Angelo American will seek to obtain the approval of the stock holders to change its legal name to “Anglo Tech” upon completion of the merger.