business / news / / Calgary Herald
Shell PLC has agreed to buy Canadian oil and gas producer Arc Resources Ltd. for $22 billion.
Shell PLC will acquire ARC Resources Ltd. for $22 billion, pending regulatory approvals.
KEY POINTS
- The offer is 0.40 Shell shares and $8.20 cash per ARC share, a 27% premium.
- The deal gives Shell access to ARC's Montney region oil and gas assets in Canada.
- Boards of both companies unanimously support the deal, expected to close in the year's second half.
COMPANIES
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