ARC Resources Shareholders Approve $16.4 Billion Takeover by Shell

Shareholders of ARC Resources have approved the company's acquisition by Shell in a $16.4 billion transaction, moving one of the energy sector's most significant deals of the year closer to completion. The approval marks a critical milestone in Shell's strategy to expand its natural gas portfolio in North America.

Overwhelming Support and Final Hurdles

In a special shareholder meeting on Tuesday, the deal received overwhelming backing, with 99.54% of votes cast in favor of the acquisition, ARC Resources announced. The transaction has already secured key competition clearances in both Canada and the United States.

The final step before the deal can close is a hearing for approval at the Court of King’s Bench of Alberta, which is scheduled for Wednesday. The companies anticipate the transaction will be finalized in the second half of 2026, after which ARC's shares are expected to be delisted from the Toronto Stock Exchange.

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Regulatory and Financial Context

To comply with securities law requirements for the acquisition, Shell had paused its $3 billion share buyback program last month pending the shareholder vote. Another condition for the deal was met when the Alberta Securities Commission granted Shell relief from certain requirements related to its share repurchase programs in the United Kingdom and the Netherlands.

The acquisition is a strategic move for Shell, aimed at significantly bolstering its presence and production capacity in the North American natural gas market. For ARC shareholders, the vote solidifies the path toward realizing the value offered in the acquisition agreement.