Chevron to Acquire Hess in $60 Billion Deal

Paul, Weiss is representing Chevron Corporation in its all-stock acquisition of Hess Corporation. Under the deal, valued at $60 billion, including debt, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.

The transaction is expected to close in the first half of 2024, pending Hess shareholder approval, regulatory approvals and other customary closing conditions.

The Paul, Weiss team was led by Kyle Seifried, Stan Richards and Scott Barshay, and included, among others, corporate partners John Kennedy, Christodoulos Kaoutzanis and Manuel Frey, counsel Patricia Vaz de Almeida, Lyudmila Bondarenko and Nathan Mitchell; executive compensation partner Lawrence Witdorchic; tax partner Brian Krause and counsel Anne McGinnis; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; environmental counsel William O’Brien; and international trade counsel Richard Elliott.