Chevron to Buy Hess for $53 Billion in Stock. Oil M&A Is Booming.

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Adam Clark

Updated Oct 23, 2023, 11:14 am EDT / Original Oct 23, 2023, 5:24 am EDT

Chevron said Monday it agreed to buy fellow oil company Hess in an all-stock deal valued at $53 billion. It’s another major deal in the energy sector, which Chevron said would help support higher shareholder returns.

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