Key facts
- ARC Resources shareholders approved the $16.4 billion acquisition by Shell.
- The deal aims to expand Shell's North American natural gas portfolio.
- 99.54% of votes cast at the shareholder meeting supported the acquisition.
- Several key regulatory approvals have already been secured.
- A court hearing for final approval is scheduled for Wednesday.
- The transaction is expected to close in the second half of 2026.
ARC Resources shareholders have voted in favor of being acquired by Shell, marking a significant step toward one of the year's largest energy sector deals. The acquisition, valued at $16.4 billion, aims to bolster Shell's natural gas portfolio in North America.
During a special shareholder meeting, 99.54% of the votes cast supported the deal. ARC Resources stated that several key regulatory approvals, including competition clearances in Canada and the United States, have already been obtained. The companies are now awaiting a hearing for final approval from the Court of King's Bench of Alberta, scheduled for Wednesday.
In preparation for the acquisition, Shell had previously paused its $3 billion share buyback program to comply with securities law requirements. The Alberta Securities Commission has provided Shell with relief from certain requirements related to its share repurchase programs in the United Kingdom and the Netherlands, fulfilling another condition for the deal's closure. The transaction is anticipated to be completed in the second half of 2026, after which ARC's shares are expected to be delisted from the Toronto Stock Exchange.