Senate Majority Leader Chuck Schumer has called on the Federal Trade Commission (FTC) to intervene in the proposed merger between Chevron (CVX) and Hess (HES), valued at $53 billion. Schumer claims the merger will allow oil companies to raise gas prices. Yahoo Finance Anchors Seana Smith and Jared Blikre discuss what these developments mean for the energy sector. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
(Bloomberg) -- Chevron Corp.’s $53 billion deal to acquire Hess Corp. suffered a potential blow Monday as an influential adviser said investors should abstain from voting for the deal.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindGameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Retail FrenzyTesla Rehires Some Supercharger Workers Weeks After Musk’s CutsChina to Start $138 Billion Bond Sale on Friday to Boost EconomyMacron Puts French Banks in Play With Pl
(Bloomberg) -- HBK Capital Management, one of the biggest shareholders in Hess Corp., is planning to abstain from voting on the oil company’s $53 billion takeover by Chevron Corp.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindGameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Retail FrenzyTesla Rehires Some Supercharger Workers Weeks After Musk’s CutsChina to Start $138 Billion Bond Sale on Friday to Boost EconomyMacron Puts French Banks in Play With Plan to