Independent proxy advisory firms ISS and Glass Lewis have recommended that ARC Resources shareholders vote in favour of the proposed arrangement with Shell. The arrangement offers ARC shareholders 0.40247 of a Shell ordinary share and $8.20 in cash per ARC share, representing total consideration of $32.80 per share based on prices as of April 24, 2026, a 27.3 per cent premium to the unaffected trading price. ISS stated the strategic rationale is sound and shareholders are expected to benefit from a more diversified, scaled entity with increased liquidity and a stronger financial position, with the combined company expected to achieve annual synergies of US$250 million. The special meeting of ARC shareholders is scheduled for July 14, 2026, with the proxy voting deadline on July 10, 2026. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary conditions.
Shell plcISS and Glass Lewis recommend ARC shareholders vote for Shell arrangement, which is expected to close in H2 2026 and bring synergies
Accelerant HoldingsISS and Glass Lewis recommend ARC shareholders vote for Shell arrangement, offering a 27.3% premium and expected synergies