Hess Corporation's shareholders have approved Chevron's $53 billion acquisition of the company. The vote, which took place on Tuesday, clears a significant hurdle for the merger. Despite the approval, there were calls from several large shareholders and Institutional Shareholder Services (ISS) to postpone the vote. Additionally, a dispute with Exxon over Guyanese assets remains unresolved, adding uncertainty to the final outcome of the merger. The deal, which required majority approval from Hess's 308 million outstanding shares, is a major move in the energy industry, as Chevron aims to leverage Hess's oil-rich Guyana fields.
Hess’s shareholders approved a $53 billion deal to sell the company to Chevron. A challenge by Exxon still threatens to sink the deal. https://t.co/1mvi2Eal3r https://t.co/1mvi2Eal3r
Hess Shareholders Greenlight $53 Billion Merger With Chevron Stockholders’ green light clears one hurdle for the tie-up to happen but challenge by Exxon makes final outcome uncertain https://t.co/1whrYAnxWC
Hess shareholders approve US$53-billion merger with Chevron https://t.co/SWRLK6RJ28