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Bond Market News
Shell’s Acquisition Approved by ARC Shareholders
July 15, 2026
– Vandit P
ARC Resources’ shareholders voted in favor of being acquired by Shell after the latter had agreed to acquire the Canadian natural gas producer in a $16.4bn transaction as part of its push to expand its natural gas portfolio in North America. ARC said 99.54% of the votes cast at a special shareholder meeting supported the deal, and several regulatory approvals were already secured, including competition clearances in both Canada and the US. The companies now await a hearing for approval at the Court of King’s Bench of Alberta. Shell had paused the $3bn buyback last month until the shareholder vote, to comply with securities law requirements tied to the acquisition. The Alberta Securities Commission has since granted Shell relief from certain requirements related to its share repurchase programs in the UK and the Netherlands, satisfying another closing condition. The transaction is expected to close in 2H2026.
Shell’s dollar bonds were trading stable, with its 3.875% 2028s at 99.1, yielding 4.3%.
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