https://news.bloomberglaw.com/esg/hess-sued-on-53-billion-chevron-sale-as-panel-preps-deal-ruling
Seems like Mr. Hess may be in trouble.
6 replies (most recent on top)
Means nothing to acquisition
If they win the lawsuit any judgement will have to be paid by HESS or whoever owns HESS at the time. It could be a Getty scenario which saw Texaco crippled by an $11 billion judgement but I doubt it.
This article in summary:
- A pension fund is upset that Hess entered into a deal with CVX as opposed to entertaining open market bids.-
Maybe the pension fund lost money on other investments and is throwing a Hail Mary for payout. To me it had no merit. Nothing to see here let’s move along.
@az I wonder if that’s why they are not announcing the decision of the arbitrator yet
This url requires a login, can you paraphrase the content because I don’t want another user account.
This is very interesting. What does this mean for our acquisition. The timing of this is bad too, just before they are about to announce the decision