Exxon To Win FTC Approval For $60 Billion Pioneer Deal, Creating Energy Supergiant [zero hedge]
Hess Corporation (HES)
Last hess corporation earnings: 1/29 07:30 am
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Source: zero hedge
Exxon To Win FTC Approval For $60 Billion Pioneer Deal, Creating Energy Supergiant Having adversely intervened in virtually every other M&A deal in the past 3 years, the Biden FTC will reportedly allow Exxon's $60 billion purchase of Pioneer to go through after the companies agreed to minor concessions, Bloomberg reported citing people familiar with the matter. The announcement of the deal will likely come any moment, and the resulting deal will make Exxon - a company which Biden once said makes money money than god - far and away the biggest oil and natural gas producer in the Permian Basin, North America’s largest US oil field, and also the biggest energy company in the US. Pioneer shares that had been down more than 2% on the day reversed those losses and were trading up as much as 0.9% on the news. Hess Corp, the target of a takeover bid by Chevron, also climbed 0.9% although the probability of that deal passing is far lower especially in light of the ongoing arbitration with Exxo
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HES
News
- Hess Co. (NYSE: HES) had its price target raised by analysts at Susquehanna from $164.00 to $167.00. They now have a "neutral" rating on the stock.MarketBeat
- Hess Corporation: What Has Changed [Seeking Alpha]Seeking Alpha
- Hess Announces Regular Quarterly Dividend On Common StockBusiness Wire
- Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick [Yahoo! Finance]Yahoo! Finance
- Oil prices rally on demand outlook, econ data [Yahoo! Finance]Yahoo! Finance
HES
Earnings
- 4/25/24 - Beat
HES
Sec Filings
- 5/8/24 - Form DEFA14A
- 5/7/24 - Form 10-Q
- 5/2/24 - Form 425
- HES's page on the SEC website