Chevron Corp said on Monday it’s going to buy smaller rival Hess Corp in a $53 billion, all-stock deal.
Chevron is offering $171 for each Hess share, implying a premium of about 4.9% to the share’s last close.
CEO John Hess of Hess Corp, is predicted to hitch Chevron’s board of directors once the deal closes, the businesses said in an announcement.
Chevron is offering $171 for each Hess share, as Hess’ CEO is predicted to hitch Chevron’s board of directors once the deal closes. REUTERS
The deal comes weeks after rival Exxon made a $60 billion offer for Pioneer Natural Resources that might make it the most important producer in the most important U.S. oilfield.
