ARC Resources shareholders approve Shell's $22B takeover deal
Shareholders of the Calgary-based natural gas producer voted to back the previously announced acquisition by global energy giant Shell PLC.
Why it matters
The deal marks one of the largest recent takeovers of a Calgary-based energy company, with implications for the province's natural gas sector.
ARC Resources Ltd. announced that its shareholders have voted in favour of a plan that would see Shell PLC acquire the Calgary-based natural gas producer in a deal valued at $22 billion.
The vote clears a key hurdle for the transaction, which was previously announced and now moves forward following shareholder approval. ARC Resources is headquartered in Calgary and operates as a natural gas producer.
No additional details on next steps, closing timeline, or regulatory approvals were provided in the announcement.
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