Freshfields advises ARC Resources Ltd. on its C$22bn agreement to be acquired by Shell

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Apr 28 2026

Global law firm Freshfields is advising ARC Resources Ltd. (“ARC”), one of Canada's largest dividend-paying energy companies, on its agreement to be acquired by Shell.

The recommended cash and share transaction is valued at approximately C$22 billion, including assumed net debt.

The Freshfields transatlantic team is being led by partners Graham Watson and Samira Afrasiabi, alongside partners Steve Matays, Doug Smith and May Smith, Counsel Jay Cosel, Holly Baker and Rose Swaffield and Senior Associate Jennifer Brokamp.

Burnet, Duckworth & Palmer LLP is acting as lead legal counsel to ARC. Freshfields is acting as U.K. counsel and U.S. corporate, securities and tax counsel.

The transaction will be implemented by means of a Canadian plan of arrangement and, subject to court, ARC shareholder and regulatory approvals, is expected to close in the second half of 2026.

Team

London

Apr 28 2026

Global law firm Freshfields is advising ARC Resources Ltd. (“ARC”), one of Canada's largest dividend-paying energy companies, on its agreement to be acquired by Shell.

The recommended cash and share transaction is valued at approximately C$22 billion, including assumed net debt.

Burnet, Duckworth & Palmer LLP is acting as lead legal counsel to ARC. Freshfields is acting as U.K. counsel and U.S. corporate, securities and tax counsel.

The transaction will be implemented by means of a Canadian plan of arrangement and, subject to court, ARC shareholder and regulatory approvals, is expected to close in the second half of 2026.