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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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
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