Chevron announces agreement to acquire hess

San ramon, calif. & new york--(business wire)--chevron corporation (nyse: cvx) announced today that it has entered into a definitive agreement with hess corporation (nyse: hes) to acquire all of the outstanding shares of hess in an all-stock transaction valued at $53 billion, or $171 per share based on chevron's closing price on october 20, 2023. under the terms of the agreement, hess shareholders will receive 1.0250 shares of chevron for each hess share. the total enterprise value, including d.
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