India, April 27 -- Oil and gas major Shell Plc (SHEL,SHEL.L) Monday announced that it has entered into a definitive agreement to acquire Canadian energy company ARC Resources Ltd. (AETUF,ARX.TO) in cash and stock deal with equity value of around $13.6 billion.
Under the deal terms, ARC shareholders will receive C$8.20 in cash and 0.40247 ordinary shares of Shell for each ARC share, representing approximately 25 percent cash and 75 percent shares as of April 24 market closing. The total consideration would be C$32.80 per share, which represents a 20 percent premium to ARC's 30-day VWAP.
Shell will take on approximately $2.8 billion in net debt and leases, resulting in an enterprise value of around $16.4 billion.
The equity value of $13.6 ...