US FTC finalizes consent order for $53 billion Chevron-Hess merger
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 10/27/2026
- S&P 500, Nasdaq advance as oil eases ahead of Fed decision
- Meta's $97.5B AI money grab: why Zuckerberg is racing to raise cash before rivals
- Deutsche Bank’s Reid sees potential final dip this year before Santa rally
- UPS tops estimates as efficiency drive gains momentum
- GM to move stock listing to Nasdaq in November, shares gain
Tweet
Share
E-mail
Chevron and Hess logos are seen in this illustration taken, October 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess.
According to the order, John Hess, CEO of the oil and gas producer, will be barred from joining the combined company's board over allegations that he communicated with oil producers' group OPEC during its efforts to curtail production.
Though the proposed takeover has cleared the FTC's antitrust review, one last hurdle remains - Exxon Mobil's challenge to the deal. A three-judge arbitration panel is due to consider the case later in May.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Devika Syamnath)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Artiva Biotherapeutics stock tumbles after halting drug trial
- Truist Securities Reiterates Buy Rating on RadNet (RDNT)
- Ancora urges H.B. Fuller board to explore full sale of company
Create E-mail Alert Related Categories
ReutersRelated Entities
OPEC, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
