FINWIRES · TerminalLIVE
FINWIRES

Shell Completes C$22 Billion Acquisition of ARC Resources

By

ARC Resources (ARX.TO) after trade Wednesday said Shell (SHEL) completed its acquisition of the Western Canadian natural-gas producer in a cash-and-share deal valued at about C$22 billion, including assumed debt.

The transaction was carried out via an indirect, wholly-owned subsidiary of Shell, according to the statement.

Per the agreement, ARC shareholders receive 0.40247 Shell shares plus C$8.20 in cash for each ARC share, the company said.

Following the closing, ARC shares are expected to be delisted from the Toronto Stock Exchange two trading days after the transaction closes, the company added.

"ARC shareholders are advised that the Shell shares are listed and traded on the London Stock Exchange. The Shell shares are not, and will not, be listed on the TSX," the company said.

Related Articles

Mining & Metals

Alimentation Couche-Tard Q1 Adjusted EPS Rises to $0.90; Revenue Beats FactSet Estimate

Alimentation Couche-Tard (ATD.TO) said after the close Tuesday its fiscal first-quarter adjusted earnings per share rose to $0.90 from $0.78 in the prior-year period.Revenue for the period ended July 19 increased to $21.70 billion in the quarter ended July 19 from $17.35 billion a year earlier, exceeding the FactSet consensus estimate of $20.86 billion.The company also declared a quarterly dividend of C$0.22 per share for the first quarter of fiscal 2027, payable Sept. 25 to shareholders of record as of Sept. 11.Shares of the company closed up C$0.81 to C$84.28 on Toronto Stock Exchange.

$ATD.TO
Mining & Metals

Hammond Power Solutions Hikes Its Quarterly Dividend 5.5% to C$0.29 per Class B Share. The Higher Dividend Will Be Paid Sept. 24 to Shareholders of Record on Sept. 17

$HPS-A.TO
Mining & Metals

Cipher Pharmaceuticals' Ownership Of Certain Abscoria-Related Clinical Data Affirmed by US Court

Cipher Pharmaceuticals (CPH.TO) said Tuesday after trade that a New York federal court denied Sun Pharmaceuticals' petition to vacate an arbitrator's ruling concerning the ownership of certain clinical data.The court agreed with the arbitrator that Cipher owned clinical data that was used by Sun to launch a prescription anti-acne medication, Abscoria, in Canada in 2023.The arbitrator had awarded Cipher damages of C$4.2 million, a 15% royalty on net sales of Absorica in Canada from Jan. 1, 2026, and ending on Dec. 31, 2040. Also awarded was 80% of Cipher's out-of-pocket attorneys' fees and certain expenses related to the arbitration process, a statement said.The federal court awarded Cipher interest on the damages and its out-of-pocket attorneys' fees and certain expenses directly related to the arbitration process, at a rate of 9% per annum.Cipher Pharmaceuticals shares closed up C$0.51 at C$14.19 on the Toronto Stock Exchange.

$CPH.TO