Hess (HES) Faces Legal Hurdles Over Chevron Deal Disclosures

Background of the Chevron Deal In October 2023, Chevron proposed a $53 billion acquisition of Hess. The strategic move was aimed at strengthening Chevron's presence in Guyana's oil-rich offshore fields. However, the deal has encountered significant obstacles, including the need for regulatory approval from the Federal Trade Commission. The resolution of these issues is crucial for the progression of the acquisition. Class Action in Delaware Court of Chancery One of the three lawsuits, a class action complai ...