Deals
Hess Investors Vote in Favor of $53 Billion Chevron Takeover
- Several large shareholders and ISS urged abstentions on vote
- Arbitration with Exxon over Guyana remains major roadblock
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Hess Corp. shareholders approved Chevron Corp.’s $53 billion takeover despite reservations among several prominent investors about a dispute with Exxon Mobil Corp. over a key asset.
Hess shareholders approved the deal during a meeting Tuesday, the company said in a statement Tuesday. The company’s shares initially fell on the news but then recovered, climbing as much as 1%.