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CVX to buy HES. 53 billion.

Posted on 10/23/23 at 6:09 am
Posted by Evolve
Texas
Member since Aug 2012
3377 posts
Posted on 10/23/23 at 6:09 am
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 10/23/23 at 7:10 am to
The consolidation is here.
Posted by castorinho
13623 posts
Member since Nov 2010
86585 posts
Posted on 10/23/23 at 7:10 am to
Holy consolidation
Posted by GREENHEAD22
Member since Nov 2009
20580 posts
Posted on 10/23/23 at 8:16 am to
Next 6 months I bet we see another 2-4 of these.
Posted by evil cockroach
27.98N // 86.92E
Member since Nov 2007
8927 posts
Posted on 10/23/23 at 8:54 am to
What's interesting is that these have been done with not much premium on the stock. C-suite will get paid their "transaction bonuses", no doubt. However, it makes me think that the company leaders at HESS are figuring, "we can't run the stock up much any higher, might as well get out now". Kind of similar to the Exxon-Denbury deal.
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 10/23/23 at 9:04 am to
Denbury had been through bk. Creditors were getting out.
Posted by CORIMA
LAFAYETTE
Member since May 2014
530 posts
Posted on 10/23/23 at 3:32 pm to
was this the cause of the Chevron stock price drop today or unrelated?
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 10/23/23 at 4:55 pm to
Related.
Posted by j1897
Member since Nov 2011
4313 posts
Posted on 10/23/23 at 8:16 pm to
quote:

was this the cause of the Chevron stock price drop today or unrelated?


Yup, it's a stock transaction, dilutes and will dilute the buyback :(
This post was edited on 10/23/23 at 8:17 pm
Posted by castorinho
13623 posts
Member since Nov 2010
86585 posts
Posted on 10/24/23 at 6:57 am to
quote:

Yup, it's a stock transaction, dilutes
haven't look at the specifics here but that's not necessarily true. You can have a stock txn without diluting.
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