Shell Plc buys ARC Resources for $13.6 billion, expanding Canadian oil and gas output and boosting investor returns with a premium share and cash deal.
Shell Plc agreed to buy Canadian producer ARC Resources Ltd. for $13.6 billion, in a deal that will expand the company’s oil and gas production.
ARC has a high-quality, low-cost resource base that complements Shell’s existing business in Canada, the company said in a statement on Monday.
The acquisition will be paid for with about 25% cash and 75% shares, at a premium of 20% to ARC’s 30-day weighted average price.
ARC has a high-quality, low-cost resource base that complements Shell’s existing business in Canada, the company said in a statement on Monday.
The acquisition will be paid for with about 25% cash and 75% shares, at a premium of 20% to ARC’s 30-day weighted average price.
Oil majors are seeking to bolster their oil and gas resources as they refocus on their core business in a drive to boost returns to investors.
(will be updated with more details)
