Shell Agrees to Buy Arc Resources for $13.6 Billion (SHEL, ARX CN)
Bloomberg.com • • business
Key Points:
- Shell Plc will acquire Canadian oil and gas producer ARC Resources Ltd. for $13.6 billion, marking its largest deal in over ten years.
- The acquisition aims to help Shell sustain long-term production amid limited major fossil fuel discoveries.
- This is the first significant purchase under CEO Wael Sawan, who faces pressure to increase the company’s fossil fuel reserves.
- Shell has ruled out bidding for BP Plc, making smaller acquisitions like this the preferred strategy for growth.
