Chevron to Buy Hess for $53 Billion in Stock.

Chevron to Buy Hess The company will buy the company for $53 Billion in Stock. stock. Oil Mergers Are Surging. mergers are doing well.

Chevron CVX -1.34% said Monday it agreed to buy fellow oil company Hess.

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HES -1.84% in an all-stock deal valued at $53 billion. It’s another major deal in the energy sector as rising crude prices are set to boost profits.

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Chevron (ticker: CVX) said Hess (HES) shareholders might receive 1.0.5 Chevron shares in alternate for each in their personal stocks.

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Hess stocks had been up 2.4% at $166.85 in premarket trading. Chevron shares have been falling 2.7% at $162.40.

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The deal values Hess shares at $171 every, based totally on Chevron’s last price on Friday.

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The deal values Hess shares at $171 every, based totally on Chevron’s last price on Friday.

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