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Montevideo, May 12th 2024 - 20:13 UTC

Stories for October 24th 2023

  • Tuesday, October 24th 2023 - 08:36 UTC

    Big news in oil industry: Chevron takes over Hess Corporation in a US$ 53 billion transaction

    Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.

    Chevron Corporation (NYSE: CVX) announced on Monday that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at US$ 53 billion, or US$ 171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is US$ 60 billion.

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