Shell agrees to acquire Canada’s ARC Energy for $13.6 billion
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A statement on Monday indicated that ARC possesses a high-quality, low-cost resource base that can complement Shell’s existing operations in Canada. The acquisition will be paid for with approximately 25% in cash and 75% in stock, representing a premium of about 20% over ARC’s volume-weighted average share price over the past 30 days. (Bloomberg)
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