Shell completes $13.9 billion acquisition of ARC Resources

Shell has successfully completed the acquisition of ARC Resources Ltd. for $13.9 billion, following the approval of all necessary shareholders, courts, and regulators. Under the terms of the arrangement, ARC shareholders will receive CAD $8.20 in cash and 0.40247 ordinary shares of Shell plc for each ARC common share. The transaction has an equity value of approximately $13.9 billion, funded through $3.3 billion in cash and $10.6 billion in new Shell shares.

The acquisition adds around 370,000 barrels of oil equivalent per day to Shell's production, with an enterprise value of approximately $16.5 billion, including $2.5 billion in net debt and leases. This move is expected to generate double-digit returns and be accretive to free cash flow per share from 2027 onwards, expanding Shell's producing interests in Canada and complementing its existing LNG footprint and downstream businesses.

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