The Globe and Mail reports in its Thursday, Nov. 27, edition that Anglo American has won another important nod of approval in its $20-billion quest to merge with Teck Resources. The Globe's Jameson Berkow writes that five days after Glass, Lewis & Co. endorsed the proposed transaction, Institutional Shareholder Services on Wednesday also recommended Teck investors vote in favour of the deal. Teck must win support from at least two-thirds of votes cast at a shareholder meeting set for Dec. 9 in order for the deal to proceed. Large institutional shareholders often follow the voting advice of Glass Lewis and ISS, particularly when both agree. ISS noted that Teck shareholders will own nearly 38 per cent of the new entity, to be called Anglo Teck, and that the deal will create significant cost savings while forming one of the world's largest copper producers. ISS said: "The arrangement makes strategic sense in light of the anticipated synergies, strategic benefits and opportunity for additional upside through ownership in the combined company. Shareholders are expected to benefit from increased liquidity and stronger financial position for the combined company, and the market reaction has been positive."