Index removal happens at the bell. Close is a separate filing
S&P Dow Jones Indices said August 27 that ARC Resources (TSX: ARX) would be removed from the S&P/TSX Composite Index prior to the open on September 2, 2026. That is an index rebalance event tied to Shell plc's acquisition. It is not by itself proof the arrangement has closed.
Under the deal, each ARC share is exchanged for 0.40247 new Shell shares and $8.20 in cash. ARC's August 25 Investment Canada release still pointed to close on or about September 2, subject to customary conditions. Shell said September 1 it applied to list 228,003,843 new ordinary shares on the London Stock Exchange, with admission expected September 3, as part of the consideration for acquiring ARC.
ARC reported second-quarter average production of 390,465 boe/d in its July results file. This note does not update that number. It tracks the tape and the index.
Neutral read
ARX is on the listed producer list. Banks were skipped. September 2 index removal, 0.40247 plus $8.20, and a September 3 Shell listing date are the facts. Write index drop as scheduled, not as delisted until the issuer confirms. Watch for ARC's close release, when TSX suspension actually lands, and whether Shell shares start trading for former ARX holders on schedule.