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Shell to Buy Canada's ARC Resources in $16.4 Billion Deal

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Shell (SHEL.L, SHELL.AS) agreed to acquire Canada-based energy company ARC Resources for an enterprise value of $16.4 billion, inclusive of $2.8 billion in net debt and leases.

Under the definitive agreement, ARC Resources shareholders will receive CA$8.20 in cash and 0.40247 ordinary shares in the British energy giant for each share held, translating to a consideration of CA$32.80 per share or a total equity value of $13.6 billion, according to a Monday release.

Deal closing is expected in the second half, subject to approvals from ARC Resources shareholders and court and regulatory clearances.

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