Chevron Corp shares are trading lower by around 3% after it penned a deal to acquire Hess Corp for $53 billion or $171 per share in an all-stock transaction. The transaction price represents a premium of 10.3% on a 20-day average based on closing prices on October 20, 2023. As per the terms, HES' shareholders will get 1.0250 shares of CVX for each stock held. The deal's total enterprise value, including debt, is $60 billion. . . #chevron #hess