Shell's $22 billion purchase of ARC Resources wins shareholder approval
Calgary-based ARC Resources' shareholders voted 99.54 per cent in favour of the takeover, which would give Shell control of major natural gas assets in the Montney resource play.
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Calgary-based natural gas producer ARC Resources Ltd. says the vast majority of its shareholders approved a takeover by global supermajor Shell PLC for $22 billion, announced in April.
The blockbuster deal is among the largest in many years for Canada's oilpatch, which has seen renewed attention from global investors amid an ongoing conflict in the Middle East. A convincing 99.54 per cent of the votes cast by ARC shareholders endorsed the deal.
"This important milestone reinforces the merits of the transaction and the value it stands to generate," Shell said in a statement.
Shell will gain ARC's infrastructure in the Montney resource play in northern Alberta and British Columbia, making the company one of Canada's biggest natural gas producers. The deal is widely seen as a strong endorsement of a proposed massive expansion at LNG Canada's shipping terminal on British Columbia's coast. Shell is a major shareholder in the project, which would become the second largest in the world if the joint-venture partners green-light a second phase.
The deal is expected to close in the second half of 2026, subject to regulatory approvals.
The facts
How much is Shell paying for ARC Resources?
$22 billion. Shell PLC announced the acquisition of Calgary-based ARC Resources in April 2026.
What percentage of ARC shareholders approved the deal?
99.54 per cent of votes cast by ARC Resources shareholders endorsed Shell's takeover.
What assets will Shell gain from this deal?
Shell will acquire ARC Resources' infrastructure in the Montney resource play in northern Alberta and British Columbia, making Shell one of Canada's biggest natural gas producers.
When will the deal close?
The acquisition is expected to close in the second half of 2026, subject to regulatory approvals.
