24 October 2023
Chevron Corporation announced that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction.
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 $60 billion.
Chevron Announces Agreement to Acquire Hess
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