M&A - CHEVRON CORP

Form Type: 8-K

Filing Date: 2025-03-17

Corporate Action: Acquisition

Type: Update

Accession Number: 000095014225000756

Filing Summary: On March 17, 2025, Chevron Corporation disclosed its purchase of 15,380,000 shares of Hess Corporation common stock, amounting to approximately 4.99% of Hess's outstanding shares as of January 31, 2025. These purchases were carried out at market prices, representing a discount to the merger agreement exchange ratio established on October 22, 2023. This move is indicative of Chevron's confidence in the pending acquisition of Hess. Additionally, the purchases of Hess shares coincide with Chevron’s ongoing stock repurchase program for its own shares during the first quarter of 2025.

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