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Teck Resources and Anglo American Extend Special Dividend Payment Under Planned Merger

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Teck Resources (TECK-B.TO) and Anglo American agreed to extend the payment of a special dividend related to their planned merger, Teck said Tuesday.

The companies agreed that a $4.5 billion special dividend Anglo American will pay as part of the transaction will be paid within 45 days of the merger's effective date, instead of 30 days outlined in the initial agreement.

Teck and Anglo American made the announcement after both companies agreed that the period between the fulfillment of the remaining merger conditions and completion of the merger will be 11 trading days.

The effective time of the merger is expected at 10 p.m. Vancouver time on the 11th trading day, Teck said.

Teck's Class B shares were last seen down C$2.11, or 2.2%, to C$92.40 on the Toronto Stock Exchange.

Price: $92.41, Change: $-2.11, Percent Change: -2.23%

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