Chevron Corp said on Monday it will buy smaller rival Hess Corp in an all-stock deal valued at $53 billion.
Chevron offered $171 for each Hess share, implying a premium of about 4.9% to the stock’s last close.
Chief Executive Officer John Hess of Hess Corp, is expected to join Chevron’s board once the deal closes, the company said in a statement.
Chevron is offering $171 for each Hess share, as Hess’ CEO is expected to join Chevron’s board once the deal closes. Reuters
The deal comes weeks after rival Exxon made a $60 billion bid for Pioneer Natural Resources that would have made it the largest producer in the US’s largest oil field.
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Source: thtrangdai.edu.vn/en/
