ARC Resources Shareholders Approve $16.4bn Shell Takeover

Overview

ARC Resources Ltd (TSX:ARX) announced that shareholders at a special meeting voted overwhelmingly—99.54% of votes cast—to approve the proposed acquisition by Shell PLC (LSE:SHEL). The transaction is valued at $16.4 billion.

Regulatory Progress

The company stated that competition clearances have been obtained from the relevant authorities in both Canada and the United States. The deal now requires final approval from the Court of King’s Bench of Alberta, with a hearing set for the upcoming Wednesday.

Related Share‑Buyback Actions

In the preceding month, Shell halted its $3 billion share‑repurchase programme pending the shareholder vote, to satisfy securities‑law requirements linked to the acquisition. The Alberta Securities Commission subsequently granted Shell relief from certain UK and Netherlands share‑repurchase obligations, satisfying another condition for completing the transaction.

Strategic Context

Shell originally announced the acquisition earlier in the year as part of its strategy to expand natural‑gas operations in North America.