Chevron, Hess CEOs See 'A Lot Of Upside' For Shareholders Following $53B Deal
Portfolio Pulse from Adam Eckert
Chevron Corp (NYSE:CVX) has announced plans to acquire Hess Corp (NYSE:HES) in an all-stock transaction valued at $53 billion. The deal is expected to extend Chevron's production and free cash flow growth outlook into the 2030s and support higher distributions for shareholders. Chevron's shares are down nearly 10% year-to-date, and the stock was down 2.53% at the time of the announcement.
October 23, 2023 | 3:42 pm
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POSITIVE IMPACT
Chevron's acquisition of Hess is expected to extend its production and free cash flow growth. However, the company's shares are down nearly 10% year-to-date.
The acquisition of Hess is a significant move for Chevron, potentially extending its production and cash flow growth. However, the company's shares have been down, which may impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hess is being acquired by Chevron in a deal valued at $53 billion. Hess shareholders will receive 1.025 shares of Chevron for each Hess share held.
The acquisition by Chevron is a significant event for Hess and its shareholders, who will receive Chevron shares as part of the deal. This could potentially impact the value of Hess shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100