Reported 4 months ago
Shareholders have approved the $53 billion sale of Hess to Chevron in the energy sector, while ConocoPhillips is set to acquire Marathon Oil in a $17.1 billion all-stock deal. The Hess-Chevron deal is still pending FTC regulatory approval and arbitration related to preemption rights with Exxon Mobil, while the Marathon Oil-ConocoPhillips acquisition is seen as a move towards optimization and cost reduction. Analysts believe the deal is unlikely to face antitrust issues since the companies are smaller and lack downstream assets.
Source: YAHOO