John Hess Personally Calls Investors to Support Chevron Deal Before Vote
- Several major investors plan to abstain in May 28 vote
- Arbitration case with Exxon over Guyana raises uncertainty
John Hess, chief executive officer of Hess Corp., left, and Mike Wirth, chairman and chief executive officer of Chevron Corp.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.
The Hess Corp. chief executive officer is telling investors he got the best deal possible and that Chevron could walk away if the takeover doesn’t get voted through at a May 28 shareholder meeting, according to the people, who asked not to be identified because the discussions are private.