Hess Shareholders Approve $53 Billion Chevron Acquisition

The merger advances despite ongoing arbitration with Exxon over Guyana oil assets and pending regulatory reviews.

Hess shareholders voted in favor of Chevron's $53 billion acquisition, overcoming initial investor reservations.
The deal still requires approval from the U.S. Federal Trade Commission and resolution of arbitration with Exxon.
Exxon claims a right of first refusal on Hess's Guyana assets, potentially delaying the merger until 2025.
Hess shareholders will gain nearly 15% ownership in Chevron and access to its significantly higher dividend.
The acquisition is seen as a strategic move for Chevron to mitigate geopolitical risks and counterbalance cost overruns.