Shell said on Friday it was pausing its $3 billion share buyback programme from June 12 through market close on July 14, due to certain requirements related to its deal with ARC Resources.Shell, which announced its $3 billion programme in May, said any shares not repurchased during the suspension will be rolled into the remainder of the company's 2026 buyback programmes, subject to board approval. In April, Shell announced it would buy Canadian energy company ARC Resources in a $16.4 billion deal, paid for mostly with shares. The British major said in the announcement it will pay ARC shareholders C$8.20 in cash and 0.40247 Shell shares for each share, or around 25% cash and 75% shares at a 20% premium to ARC's average share price over the last 30 days.The parties entered into an agreement on June 6 to address technical aspects of how the C$32.80 per ARC share will be issued and delivered to ARC shareholders, ARC said on Friday.ARC will hold a shareholder meeting on July 14.
Global stocks: Shell pauses $3 billion share buyback
Shell has decided to put its $3 billion share repurchase program on hold from June 12 to July 14, as it navigates the implications of its acquisition of ARC Resources. During this period, shares that are not bought back will be earmarked for upcoming repurchase efforts.
169 words~1 min read
