Image: (REUTERS)
The transaction has a volume of 53 billion dollars (around 50 billion euros), Chevron announced on Monday. The offer stipulates a price of $171 per Hess share. It is therefore around 4.9 percent above the last closing price. Hess boss John Hess will probably move up to Chevron’s management team after the takeover is completed, both companies said.
Just a few weeks ago, the US energy giant Exxon submitted a $60 billion offer for Pioneer Natural Resources, which would make Exxon the leading producer of the largest oil field in the US.
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