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HOUSTON - Hess Corp shareholders will vote on Tuesday on Chevron's proposed $53 billion acquisition of the company, after many investors have called for a delay in hopes of obtaining a better offer for their shares.
Hess needs a majority of its 308 million outstanding shares to seal the all-stock deal with its shareholders and make it more difficult for other potential rivals to outbid Chevron. The Chevron acquisition was thrown into doubt after Exxon and CNOOC filed an arbitration claim against the sale.
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John Hess Personally Calls Investors to Support Chevron Deal Before VoteJohn Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.
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