FTC to Delay Chevron-Hess Decision, Bloomberg Reports
--The Federal Trade Commission plans to delay its decision to block Chevron's $53 billion takeover of Hess until an arbitration case involving Exxon Mobil is settled, Bloomberg reported, citing unnamed sources.
--Exxon claims to have a right of first refusal over Hess's biggest asset in Guyana, and its case will likely extend into the fourth quarter, the report said.
--The FTC will announce its decision when that arbitration is finished, dealing another blow to the embattled merger, Bloomberg said.
--Chevron and the FTC declined to comment in the article.
Full story: https://www.bloomberg.com/news/articles/2024-07-11/chevron-hess-decision-delayed-by-ftc-to-after-exxon-arbitration
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 11, 2024 12:33 ET (16:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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