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FinanceARC Resources shareholders overwhelmingly approve Shell acquisition with 99.54% votes in favor
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ARC Resources Ltd. announced that its shareholders have overwhelmingly approved the company's acquisition by Shell, with approximately 99.54% of votes cast in favor at a special meeting on July 14, 2026. The transaction has already secured key regulatory approvals, including clearance under Canada's Competition Act, the Canada Transportation Act, and the U.S. Hart-Scott-Rodino Antitrust Improvements Act. The Alberta Securities Commission also granted Shell exemptive relief related to its share buyback programs. The next major step is a hearing before the Court of King's Bench of Alberta on July 15 to seek approval of the arrangement. Subject to court approval and remaining regulatory clearances, the acquisition is expected to close in the second half of 2026, after which ARC's shares will be delisted from the Toronto Stock Exchange. The deal significantly expands Shell's Canadian upstream portfolio in the Montney formation.
Source report
Author: Charles Kennedy, Oilprice.com Reading Time: 2 minutes
Stock Tickers:
- ARX.TO: +0.63%
- SHEL: +0.40%
ARC Resources Ltd. announced that its shareholders have overwhelmingly approved the company's previously announced acquisition by Shell, marking a significant milestone for the proposed transaction.
At a special meeting held on Tuesday, approximately 99.54% of votes cast supported the arrangement, which will see Shell acquire the Canadian Montney-focused producer. The vote clears a major shareholder hurdle as both companies continue working toward closing the deal.
Regulatory Approvals Secured
The transaction has already obtained several important regulatory clearances, including:
- Approval under Canada's Competition Act
- Clearance under the Canada Transportation Act
- Clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act
- Exemptive relief from the Alberta Securities Commission related to Shell's share buyback programs in the UK and the Netherlands
Next Steps
The next major milestone is a hearing before the Court of King's Bench of Alberta, scheduled for July 15, to seek approval of the arrangement.
Subject to court approval, remaining regulatory clearances, and customary closing conditions, ARC expects the acquisition to be completed in the second half of 2026. Following completion, ARC's shares are expected to be delisted from the Toronto Stock Exchange.
Strategic Significance
The deal represents a significant expansion of Shell's Canadian upstream portfolio, strengthening its position in the prolific Montney formation — one of North America's most productive natural gas and liquids-rich resource plays. The acquisition aligns with Shell's strategy of reinforcing its integrated gas business while adding long-life, low-cost production assets in Canada.
By Charles Kennedy for Oilprice.com
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Source
Yahoo FinanceWestern
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ARC Shareholders Overwhelmingly Approve Shell Acquisition