Hess, Exxon and Chevron
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Chevron completed its $53 billion purchase of Hess after winning an arbitration case brought by rival Exxon Mobil and the China National Offshore Oil Corporation.
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Axios on MSNChevron-Hess merger is a goChevron's blockbuster, $53 billion acquisition of Hess Corp. is complete after a dispute panel ruled against Exxon in arbitration over Hess assets in a massive oilfield off Guyana's coast. Why it matters: The International Chamber of Commerce panel's decision enables a pivotal deal for Chevron that had been held up for over a year in a clash with rival titan Exxon.
Chevron can proceed with its $53 billion Hess acquisition after winning an ICC ruling and receiving FTC approval for board integration.
Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.
Chevron (NYSE:CVX)’s $53 billion acquisition of Hess Corp (NYSE:HES). can now proceed after an arbitration panel ruled in favor of Hess in its dispute with Exxon Mobil Corp (NYSE:XOM).