""Through this transaction, we will realize this tremendous value and become part of a dynamic global energy leader capable of realizing the full potential of our business and delivering on Canada's exciting energy future," ARC chief executive Terry Anderson said."
""ARC has demonstrated a strong track record of operational excellence and responsible development which aligns closely to how we do business," Shell chief executive Wael Sawan said."
""We look forward to welcoming our new colleagues into the organization and, together, furthering our strategy of delivering more value with less emissions," Sawan added."
Shell has signed a $22 billion deal to acquire ARC Resources, an oil and natural gas producer in Canada. ARC focuses on the Montney region and is headquartered in Calgary. Shareholders will receive a combination of Shell shares and cash for their ARC shares. The acquisition is expected to strengthen Shell's presence in Canada and align with its commitment to operational excellence and responsible development. The deal requires shareholder, court, and regulatory approvals and is anticipated to close in the second half of the year.
Read at www.cbc.ca
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