Chevron shares are trading lower after the company disclosed a deal to acquire Hess for $171/share or $53B.
Portfolio Pulse from Benzinga Newsdesk
Chevron has announced a deal to acquire Hess for $171 per share, totaling $53 billion. This news has led to a decrease in Chevron's share price.
October 23, 2023 | 10:13 am
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POSITIVE IMPACT
Hess is being acquired by Chevron for $171 per share, a deal totaling $53 billion.
The acquisition by Chevron is likely to have a positive impact on Hess's share price, as the purchase price of $171 per share may be higher than its current trading price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Chevron's share price has dropped following the announcement of its acquisition of Hess.
The acquisition announcement has led to a decrease in Chevron's share price. This is likely due to the significant cost of the acquisition, which may impact Chevron's short-term financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100