ARC Resources shareholders approve C$22 billion Shell deal

• ARC Resources shareholders approved Shell’s approximately C$22 billion acquisition with 99.54% of votes cast.
• ARC Resources shares closed 0.70% higher at C$31.66 following the shareholder vote.
• The companies expect the acquisition to close in the second half of 2026, subject to remaining conditions.

ARC Resources shareholders approved its approximately C$22 billion acquisition by Shell (NYSE:SHEL), with 99.54% backing the arrangement.

The result exceeded the required 66⅔% threshold and removed the transaction’s main shareholder condition.

ARC has secured three key regulatory clearances, while an Alberta court hearing is scheduled for July 15 at 10 a.m. MT.

The companies expect second-half 2026 closing after remaining approvals, with ARC shares then expected to leave the Toronto Stock Exchange.

Shell will pay C$8.20 cash and 0.40247 Shell shares per ARC share, valued at C$32.80 when announced.

Shell said ARC’s Montney assets would add about two billion barrels of reserves and support its Canadian integrated gas business.