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Chevron Buys Hess In An All-Stock Deal – Merger Arbitrage Mondays

  • October 30, 2023

Key Highlights

  • Chevron Corporation (CVX) entered into a definitive agreement to acquire Hess Corporation (HES) for an enterprise value of $60 billion in an all-stock deal.
  • Rithm Capital (RITM) materially increased its offer to acquire Sculptor (SCU) for $12.70 per share after founder Dan Och and other investors fought for a higher price.
  • Campbell Soup Company (CPB) received a second request related to its acquisition of Sovos Brands (SOVO). The expected completion date has been moved to mid-2024.

Hess Corporation (HES) $143.29

Market Cap: $43.82 billion

Enterprise Value: $51.78 billion


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