Anglo scraps plans to award executive bonuses related to Teck merger
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Anglo American PLC withdrew a proposal to amend executive bonuses tied to the Teck Resources merger after shareholder concerns. The proposal aimed to incentivize the merger and retain senior management, requiring Anglo's headquarters relocation to Canada. The merger with Teck Resources will form Anglo Teck PLC, focusing on copper, with Anglo shareholders owning 62.4% and Teck shareholders 37.6%. The merger isn't conditional on the bonus proposal approval. Anglo shares fell 0.8% following the announcement.
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