Anglo American’s NGLOY planned merger with Teck Resources TECK would create a combined company with a pro forma market capitalisation of about $56 billion and targeted annual pre-tax synergies of$2.2 billion, according to J.P. Morgan.The analysts led by Dominic O’Kane estimated the pre-tax synergies carry a net present value of $7 to 8 billion, equivalent to 12 to 14% of the group’s size.They said Anglo American’s earnings per share are projected to fall 13% in 2027 and narrow to 5% in 2030 if coal and dia ...