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FINWIRES

Shell to Acquire ARC Resources for $16.17 Billion

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-- ARC Resources said Monday it has entered into a definitive agreement to be acquired by Shell (SHEL) in a cash-and-share deal valued at about 22 billion Canadian dollars ($16.17 billion).

Under the terms of the deal, ARC shareholders will receive 0.40247 of a Shell share and CA$8.20 in cash consideration in exchange for each ARC share they own, representing a total consideration of CA$32.80 per ARC share.

The acquisition is expected to close in H2, ARC said.

"ARC is a high-quality, low-cost and top-quartile low carbon intensity producer that complements our existing footprint in Canada and strengthens our resource base for decades to come," Shell Chief Executive Wael Sawan said in a statement.

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