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ARC Shareholders Approve Shell's Planned Acquisition

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Shareholders of ARC Resources on Tuesday approved Shell's (SHEL.L, SHELL.AS) proposed acquisition of the Canadian energy company at a special meeting.

ARC Resources said it has obtained key regulatory approvals under the Competition Act, the Canada Transportation Act and the US Hart-Scott-Rodino Antitrust Improvements Act. The Court of King's Bench of Alberta is scheduled to hear the proposal on Wednesday.

Further, Shell secured an exemption from the Alberta Securities Commission for its share buyback programs in the UK and the Netherlands markets, which was one of the closing conditions.

Subject to the remaining approvals and other customary closing conditions, the deal is expected to close in the second half of 2026.

In April, the British energy giant agreed to acquire ARC in a $16.4 billion deal.

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