The Globe and Mail reports in its Saturday edition that mere hours after Vancouver-based Teck Resources announced its takeover by Anglo American PLC in early September, B.C. Premier David Eby made it clear where he stood: He was all-in. The Globe's Tim Kiladze writes that to win over Canadians, London-based Anglo American had announced it would relocate its global headquarters to Vancouver and run the combined company from the West Coast, and Mr. Eby loved it. A day later, Vancouver Mayor Ken Sim shared his own support, and the United Steelworkers union, which has 2,500 members at Teck's copper mine and smelting operations in British Columbia, also expressed "cautious optimism." It was not always thus. When Canada's mining sector was hollowed out by foreign buyers 20 years ago, successive Liberal and Conservative minority governments in Ottawa barely said a peep to protect the Canadian companies. It used to be that investment bankers were gods because they knew how to find synergies and calculate appropriate takeover premiums. It is the complete opposite today. The government now holds so many cards, and different types of advice have taken priority. The rollout so far has been a master class in stage management.
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