Hess Shareholders Approve $53B Chevron Merger Amid Exxon Dispute
Hess Corporation shareholders approved a $53 billion acquisition by Chevron, despite a dispute with Exxon Mobil over Hess' assets in Guyana. The deal's completion is uncertain due to arbitration proceedings initiated by Exxon, which claims a right of first refusal under a joint operating agreement. The merger, originally expected to close in early 2024, faces delays and scrutiny from the Federal Trade Commission.