Under the proposed deal, which will require regulatory approvals, Anglo American shareholders would own 62.4% of new company Anglo Teck, while shareholders in Teck would hold 37.6%. The deal to form the world's fifth-largest copper company is also a big bet on copper by Anglo. ADVERTISEMENTOn the potential of a bidding war for this deal, Teck CEO Jonathan Price told Reuters that outcome was out of the company's control. Anglo faced a $53 billion takeover bid from BHP last year that was ultimately rejected by its board. We are focused on getting approval for bringing Anglo and Teck together," Teck's Price said.