Shell announced on Friday that it is pausing its $3 billion share repurchase program until July 14, citing securities law requirements related to its upcoming $16.4 billion acquisition of ARC Resources and the Canadian company’s shareholder vote.
Shell stated that any shares not repurchased during the suspension will be rolled into the remaining 2026 buyback programs, pending board approval.
Shell stated in late April that ARC shareholders would be entitled to receive 0.40247 of a Shell common share based on its share price published on April 24, plus CAD8.20 in cash for each ARC share, totaling CAD32.80 per ARC Resources share.
The deal reached in April is valued at approximately USD16.4 billion.
Shell shares fell 3.1% following the announcement.
By CEO NA Editorial Staff
