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ARC Resources Shareholders Approve Shell's $22B Acquisition Proposal
ARC said 99.54% of votes cast backed the sale as the companies await final court approval and expect closing in the second half of 2026.
- On Tuesday, ARC Resources shareholders voted overwhelmingly to approve Shell's acquisition, with 99.54% of votes supporting the $16.4 billion deal.
- Shell agreed earlier this year to acquire the Calgary-based natural gas producer to expand its portfolio, gaining access to Montney shale holdings that produced 374,000 barrels of oil equivalent per day last year.
- To comply with securities laws, Shell paused its $3 billion share buyback last month while obtaining regulatory clearances under the Competition Act and the United States' Hart-Scott-Rodino Antitrust Improvements Act of 1976.
- The companies await a hearing scheduled for Wednesday at the Court of King's Bench of Alberta; ARC Resources shares will delist from the Toronto Stock Exchange upon completion.
- Closing is anticipated in the second half of 2026, subject to final court and regulatory approvals that remain necessary for transaction completion.
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ARC Resources reports that its shareholders voted in favour of a previously announced project, which provides for the acquisition of the Calgary-based natural gas producer by the global energy giant Shell.
·Montreal, Canada
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ARC Resources shareholders approve Shell’s $22B acquisition proposal
CALGARY - ARC Resources Ltd. says its shareholders have voted in favour of a previously announced plan that would see global energy heavyweight Shell PLC acquire the Calgary-based natural gas producer.
·Toronto, Canada
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ARC shareholders approve $16.4 billion Shell deal
July 14 (Reuters) - ARC Resources said on Tuesday its shareholders have voted in favor of being acquired by Shell, clearing another step for one of this year's biggest energy sector deals. Shell agreed earlier this year to acquire the Canadian natura...
Coverage Details
Total News Sources14
Leaning Left5Leaning Right2Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 39%
C 46%
15%
Factuality
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