Anglo American's path to $53 billion Teck Resources merger

(Reuters) - London-listed miner Anglo American said on Tuesday it has agreed a merger with Canada's Teck Resources, in what would be the biggest mining sector M&A deal in over a decade.

Both companies have been at the centre of takeover interest in recent years, with Britain's Glencore pursuing Teck and Australia's BHP targeting Anglo for their copper assets.

Here is a timeline of Anglo's acquisitions, merger talks and restructuring moves over the years leading up to the deal.

1998

** Anglo American Corporation announces a merger with Minorco SA to create a major mining and natural resources company and move to London after 81 years in South Africa.

1999

** The merger of Anglo American Corporation and Minorco is completed, forming Anglo American plc.

** Anglo American plc lists on the London Stock Exchange and is included in the FTSE 100 index.

2002

** Anglo American acquires significant stakes in iron ore producer Kumba Resources and Anglovaal Mining.

2004

** AngloGold merges with Ashanti Goldfields Corporation to form AngloGold Ashanti.

2007

** The Mondi Group, a paper and packaging business, is spun off.

2011

** Anglo American buys out the Oppenheimer family's remaining 40% stake in De Beers.

** Anglo American sells a 24.5% stake in its Chilean copper unit to Mitsubishi.

2015

** Anglo American announces a significant restructuring, with plans to cut thousands of jobs globally amid falling commodity prices.

2017

** Indian billionaire Anil Agarwal's Volcan Holdings plc acquires a significant stake in Anglo American.

** Anglo American sells its Eskom-linked thermal coal operations in South Africa.

2019

** Anil Agarwal divests the nearly 20% stake in Anglo American he has held since 2017

2020

** Anglo American makes an offer to acquire the polyhalite fertilizer project from Sirius Minerals, with the sale approved by shareholders in March.

2021

** Anglo American demerges its South African thermal coal assets into Thungela Resources.

** Glencore acquires Anglo American's share of the Cerrejón coal mine.

February 2024

** Anglo American says it would review its assets after a 94% plunge in annual profit and writedowns at its diamond and nickel operations.

April 2024

** BHP Group makes a $39 billion takeover proposal, which Anglo American rejects.

May 2024

** BHP makes a revised offer of $42.67 billion, which is also rejected. Anglo American announces a major restructuring to simplify its portfolio and focus on copper and iron ore.

** BHP abandons its $49 billion takeover plan after its request for a deadline extension is denied.

** The miner explores an initial public offering of its diamond business De Beers, according to sources familiar with the matter.

November 2024

** Anglo American agrees to sell its Australian steelmaking coal assets to Peabody Energy for up to $3.78 billion.

April 2025

** Anglo American shareholders approve the demerger of its South African unit, Anglo American Platinum.

June 2025

** Anglo American completes the demerger of its majority stake in Anglo American Platinum, which is renamed Valterra Platinum.

August 2025

** Peabody terminates the agreement for Anglo American's Australian coal assets.

September 2025

** The miner sells its remaining 19.9% stake in Valterra Platinum for approximately $2.5 billion.

** Anglo American agrees to a merger with Canada's Teck Resources, creating a new company called Anglo Teck, headquartered in Canada with a primary listing in LSE.

(SOURCES: COMPANY WEBSITE, REUTERS STORIES)

(Compiled by DhanushVignesh Babu in Bengaluru; Editing by Krishna Chandra Eluri)