ARC Resources Leads Canadian Energy Peers Higher on Shell Deal

ARC Resources Ltd. shares were on track for their biggest gain since 2020 on Monday, leading peers higher, after Shell Plc agreed to acquire the Canadian energy producer in a C$22 billion ($16 billion) deal.

Shell agreed to pay a 27% premium to ARC’s Friday closing price, providing an encouraging valuation for Western Canadian peers with assets in the region’s Montney energy resource formation.