S&P DJI changes TSX criteria, potentially clearing way for $53 billion Anglo-Teck merger

  • S&P DJI will broaden eligibility rules for the S&P/TSX Canadian Indices.
  • Anglo American’s $53 billion all-stock merger with Teck would create the world’s fifth-largest copper producer.
  • The revised methodology is planned for implementation on December 21, 2026, following a July consultation.

S&P Dow Jones Indices will broaden eligibility for the S&P/TSX Canadian Indices, potentially allowing Anglo-Teck to remain in the S&P/TSX Composite after Anglo American’s planned $53 billion all-stock merger with Teck Resources. Foreign issuers listed on the Toronto Stock Exchange that are neither domiciled nor incorporated in Canada could qualify if they maintain a material and substantive connection to Canada. The transaction is expected to close between September and March and would create the world’s fifth-largest copper producer. Anglo-Teck is expected to be headquartered in Canada while retaining its primary stock listing in London. Fairbank Investment Management portfolio manager Robert Gill said the combined company is highly likely to remain in the index, citing its Vancouver headquarters and substantial Canadian economic footprint. The methodology change follows a consultation launched in July, with implementation planned for December 21, 2026.

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