Hess Sets Date for Shareholder Vote on Chevron Merger
Hess Corp on Wednesday said its board has set April 12 as the record date for the determination of the stockholders entitled to vote on the proposed merger with Chevron Corp.
Shareholders will vote on the proposed deal in a meeting whose date is yet to be set, the company said in a U.S. securities filing. Neither Chevron nor Hess can predict the actual date on which the transaction will be completed, it said in the filing.
Exxon Mobil and CNOOC Ltd filed cases before the International Chamber of Commerce last month, seeking to claim a right to a first refusal over any sale of Hess' 30% stake in the giant Stabroek offshore oil block in Guyana.
Hess confirmed the case could drag on until year-end and ultimately block the deal. Separately, Hess has reaffirmed that it does not anticipate the need for regulatory approval from the Guyana government for this deal.
(Reuters - Reporting by Sabrina Valle; Editing by Leslie Adler)