Chevron Announced Agreement to Acquire Hess for $171/Share In All-Stock Transaction
Portfolio Pulse from Charles Gross
Chevron Corporation (NYSE:CVX) has announced a definitive agreement to acquire Hess Corporation (NYSE:HES) in an all-stock transaction valued at $53 billion, or $171 per share. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value of the transaction, including debt, is $60 billion.
October 23, 2023 | 9:03 am
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POSITIVE IMPACT
Chevron is acquiring Hess in an all-stock deal. This could potentially increase Chevron's market share and diversify its portfolio.
Acquisitions often lead to an increase in market share and diversification of portfolio. This could potentially lead to an increase in Chevron's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hess is being acquired by Chevron in an all-stock deal. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.
The acquisition could potentially lead to an increase in Hess's stock price as shareholders will receive Chevron shares, which could be more valuable.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100