Hess (HES) Faces Regulatory Hurdles Amid Chevron Merger Delay

Hess Corporation (HES) , entangled in a high-stakes merger with Chevron Corporation (CVX) , finds itself navigating regulatory uncertainties that threaten to prolong the completion of a pivotal $53-billion deal, per recent reports by Reuters and Bloomberg News. Originally slated for closure in the first half of 2024, the merger has encountered significant setbacks chiefly due to an arbitration initiated by Exxon Mobil Corporation (XOM) . ExxonMobil's claim of a right of first refusal over Hess' prized asset ...