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Hess Offers Cheap Way to Buy Chevron Due to Venezuela Worries

Por: MarketWatch Business February 02, 2024

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Chevron announced its deal for Hess—initially valued at $60 billion—on Oct. 23, with the company agreeing to swap 1.025 of its shares for every Hess share. The arbitrage spread initially was tight as Hess stock traded at $161, a slight premium to Chevron, which then changed hands at $160.  Hess now trades at a $6 a share discount to Chevron with Hess up 0.7% Thursday to $141.50 and Chevron 0.3% higher at $147.89. The current value of the... + full article



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