Chevron Corporation (CVX)
Chevron prevails over Exxon in Hess megamerger, and it matters for Chevron's stock.
The conclusion of the saga removes a stock overhang for Chevron and paves the way for the $53 billion deal to close immediately, which the oil giant said it could happen within a couple of days.
Chevron Closes $53B Purchase of Hess After Arbiter Ends Exxon Effort to Block It
Chevron (CVX) can complete its $53 billion purchase of Hess (HES) after an international arbitrator ruled in favor of Chevron in a dispute with Exxon Mobil (XOM) related to Chevron's planned acquisition. Following the decision, Chevron said it had closed the deal.
Chevron completes $53B Hess takeover after arbitration win over Exxon
Chevron Corporation (NYSE:CVX, ETR:CHV) said Friday it has closed its $53 billion acquisition of Hess Corp (NYSE:HES), cementing its entry into Guyana's prized oil fields after an international arbitration panel rejected Exxon Mobil Corp (NYSE:XOM, ETR:XONA) attempt to block the deal. The ruling by the International Chamber of Commerce (ICC) dismissed Exxon's claim that it held a right of first refusal on Hess's 30% stake in the Stabroek Block offshore Guyana, clearing the way for Chevron to finalize the long-contested takeover.
A New Beginning: Exxon, Chevron Now Partners In Guyana
ExxonMobil will now have a new, very familiar partner in its massive project in the deepwaters off the coast of tiny South American nation Guyana after Chevron emerged the winner in a 16-month-long arbitration case on Friday.
Chevron Prevails Over Exxon. It Can Buy Hess, Guyana Assets: Report.
It's a big win for Chevron. Buying Hess without the Guyana project would have wiped out the biggest upside from the deal.
Chevron defeats Exxon in dispute over Guyana oil assets, clearing path for Hess acquisition
Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation's offshore oil assets in the South American nation of Guyana.
Chevron prevails in mediation over Exxon in Guyana oil assets
CNBC's Becky Quick reports on the latest news.
Chevron Moves Forward With Megadeal for Hess After Winning Exxon Arbitration
A panel of three arbitrators says Chevron can clinch its long-delayed $53 billion acquisition of Hess, after Exxon tried to pre-empt the deal.
Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
Recently, Zacks.com users have been paying close attention to Chevron (CVX). This makes it worthwhile to examine what the stock has in store.
Chevron (CVX) Stock Sinks As Market Gains: Here's Why
Chevron (CVX) closed at $151.65 in the latest trading session, marking a -2.36% move from the prior day.
Chevron Blames Offshore Well Start-Up for Mars Crude Quality Issues
CVX's offshore zinc contamination disrupted Mars crude flows, forcing DOE action and roiling Gulf Coast refiners.
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