Chevron closes Hess acquisition
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Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.
Chevron Corp. (NYSE:CVX) says the closing of its $53 billion agreement to buy Hess Corp (NYSE:HES). will reduce uncertainty for other deals in the oil industry.
Takeover arbitragers, which have included Warren Buffett, are having a favorable 2025 after two disappointing years.
The share price of Hess Corporation (NYSE:HES) surged by 6.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. Hess Corporation (NYSE:HES) is a leader in deepwater development and production,
Shares of Hess Corp. HES shed 2.46% to $149.45 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.14% to 6,268.56 and the Dow Jones Industrial Average DJIA rising 0.20% to 44,459.65.
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The FTC voted 3-0 to set aside an order barring oil veteran John Hess from serving on the Chevron board. Chevron is still working to close a $53 billion merger with Hess Corp.