Chevron: agreement to acquire Hess
(CercleFinance.com) - Chevron announces that it has entered into a definitive agreement to acquire all the outstanding shares of Hess in an all-stock transaction valued at $53bn, or $171 per share.
Under the terms of the agreement, Hess shareholders will receive 1.0250 Chevron shares for each Hess share. The transaction's total enterprise value, including debt, amounts to $60bn.
The transaction has received unanimous board approval and is expected to close in H1 2024, subject to Hess shareholder approval, regulatory approvals and other customary conditions.
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Under the terms of the agreement, Hess shareholders will receive 1.0250 Chevron shares for each Hess share. The transaction's total enterprise value, including debt, amounts to $60bn.
The transaction has received unanimous board approval and is expected to close in H1 2024, subject to Hess shareholder approval, regulatory approvals and other customary conditions.
Copyright (c) 2023 CercleFinance.com. All rights reserved.