Chevron closes Hess acquisition
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Chevron's arbitration victory over Exxon and closing of its $53B acquisition of Hess helps solve one of Chevron's biggest problems - where its growth will come from beyond the next few years
Chevron completed its purchase of Hess after prevailing in a legal dispute with Exxon over one of the most promising oil projects in the world.
The U.S. Federal Trade Commission on Thursday reversed bans on the CEOs of takeover targets joining the boards of Chevron and Exxon Mobil that the Biden administration made a condition of clearing the oil giants' deals to buy two oil producers.
The FTC has reopened an order involving Chevron’s proposed acquisition of Hess, and another regarding Exxon Mobil’s proposed purchase of Pioneer Natural Resources after its initial complaints failed to plead any antitrust law violation.