June 15, 2026 [Reuters]- Shell said ‌on Friday it was pausing its $3 billion share buyback programme through July 14, citing securities law requirements linked to its pending $16.4 billion acquisition of ARC Resources and the Canadian company’s upcoming ​shareholder vote.

Shell 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.

Shell cut its quarterly share buyback programme in May to $3 billion from $3.5 billion ​to preserve cash for its balance sheet as a short-term liquidity squeeze after war-related ​energy supply disruptions increased its debt.

In April, Shell announced it would buy ARC in a 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. The ​deal needs at least ​66% support to ⁠be approved.

The acquisition is Shell’s biggest since it bought gas giant BG in 2016. The deal was announced after analysts ​and the company had forecast Shell needed an acquisition or exploration ​breakthrough because ⁠of its ageing fields.

ARC’s production lies near Shell’s existing Canadian fields which feed into the LNG Canada plant, in which Shell holds a 40% share and whose liquefied natural ⁠gas ​can reach Asian buyers more quickly than most other ​North American LNG.

ARC’s output is around 60% natural gas and 40% oil liquids.