Chevron to acquire Hess Corp. for $53B in all-stock deal

American gas and oil producer Chevron (CVX) will buy Hess (HES) for $53 billion dollars in an all-stock deal. The deal will add Hess' North Dakota and Guyana operations to Chevron's portfolio. In recent years, Guyana has become one of the largest off-shore oil-producing countries in the world. Yahoo Finance Markets Reporter Ines Ferre joins to break down the deal and what it means for the company and its competition going forward.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
#oil #youtube #stockmarket
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.

Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.

Connect with Yahoo Finance: