Reported 4 months ago
Hess shareholders have approved a $53 billion deal to sell the company to Chevron, but there are still hurdles to finalize the transaction. The biggest challenge is arbitration, where the ruling could potentially affect the deal if other energy giants like Exxon are given a right of first refusal. The key asset for this deal is Hess's Guyana asset, and if Chevron cannot acquire Hess alongside this asset, the entire deal could be in jeopardy according to Tortoise Portfolio Manager Robert Thummel. Chevron has made it clear that without the Guyana asset, they are not interested in pursuing the acquisition.
Source: YAHOO