ARC Resources shares surge after Shell agrees to C$22 billion acquisition
Updated
Updated · Bloomberg · Apr 27
ARC Resources shares surge after Shell agrees to C$22 billion acquisition
2 articles · Updated · Bloomberg · Apr 27
Shell will pay a 27% premium to ARC Resources’ Friday closing price, valuing the deal at about US$16 billion.
ARC Resources’ shares jumped 24% on Monday, marking their largest gain since 2020 and boosting other Western Canadian energy stocks.
The acquisition highlights the attractiveness of assets in Canada’s Montney formation and may encourage further consolidation among regional energy producers.
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