The Globe and Mail reports in its Saturday edition that Teck's no-premium "merger of equals" with Anglo American has the backing of both the federal and B.C. governments. The Globe's Eric Reguly writes that competing bids for Teck are possible, given that it is a rising star in the world of copper, the hottest of the critical metals that are underwriting the drive to electric power. But Teck is determined to merge with Anglo, even if another bid is pitched at a fat premium. There is no one reason for Teck's peculiar stand, though a biggie is Anglo's commitment to make Vancouver the head office of the enlarged company, to be called Anglo Teck. Teck is not equipping itself with a traditional poison pill to ward off competing bids -- it does not need one. Its insistence, backed by Ottawa and B.C., that Anglo Teck is run from Vancouver, not London, is poison pill enough for most would-be buyers. Would BHP, the world's biggest mining company, move its headquarters to Vancouver, a mining backwater, to gain regulatory and political approval to own a business with a market value one-seventh of its own? That would be like General Motors decamping to Stockholm in order to take control of Volvo. Not gonna happen, says Mr. Reguly.