Chevron Buyout of Hess Challenged by ExxonMobil, CNOOC

April 9, 2024--Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--When Chevron Corporation (NYSE:CVX) (San Ramon, California) announced its purchase of Hess Corporation (NYSE:HES) (New York, New York) on October 23, 2023, the statement offhandedly noted that the transaction was expected to close in the first quarter of 2024, a relatively short turnaround. After all, the directors of both corporations had unanimously agreed on the deal. What could go wrong?