Hess Board Recommends Merger With Chevron ...Middle East

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Hess Board Recommends Merger With Chevron
source : OILPRICE ( Middle East ) () 65
The board of directors of Hess Corp. unanimously recommended that shareholders vote in favor of the merger with Chevron. That’s according to a regulatory filing the company made this week as Exxon’s challenge of the $53-billion deal continues. Chevron and Hess struck the merger deal late last year but soon after Exxon said its partnership terms with Hess Corp. give it—and their third partner, Chinese CNOOC—the right of first refusal to the acquisition of Hess Corp.'s stake in the Stabroek Block. This is the patch of…

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