Previous Close | 44.76 |
Open | 37.05 |
Bid | 44.15 |
Ask | 46.05 |
Strike | 120.00 |
Expire Date | 2024-12-20 |
Day's Range | 37.05 - 37.05 |
Contract Range | N/A |
Volume | |
Open Interest | 20 |
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) -- 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 WindChina to Start $138 Billion Bond Sale on Friday to Boost EconomyGameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Meme ManiaGlobal Chips Battle Intensifies With $81 Billion Subsidy SurgeThe hedge fund agrees with Institutional Sharehol
Proxy advisor Institutional Shareholder Services (ISS) recommended on Monday that Hess shareholders abstain from voting on Chevron's proposed $53 billion buyout of the oil and gas company, which has been stalled due to a conflict with rival Exxon Mobil . ISS urged the vote be adjourned to allow more time for details on the arbitration process with Exxon to emerge. Hess shareholders are due to vote May 28 on the deal.