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Hess contests claims of inadequate disclosures in Chevron deal
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Hess contests claims of inadequate disclosures in Chevron deal
May 7, 2024 4:43 PM

HOUSTON, May 7 (Reuters) - Oil producer Hess on

Tuesday said it disputes claims in several shareholder letters

and at least two lawsuits alleging inadequate disclosures over

its proposed sale to Chevron ( CVX ).

The claims, filed in federal court in New York and the

Delaware Court of Chancery, seek to further delay or block the

$53 billion deal. Hess shareholders are scheduled to vote May 28

on the deal.

The allegations of deficient disclosures in the deal proxy

"are without merit and (Hess) intends to defend against the

matters and any subsequent demands or filed actions," the

company said in a securities filing on Tuesday.

The U.S. Federal Trade Commission is reviewing the deal,

which also has been challenged by Exxon Mobil ( XOM ), which

claims a right of first refusal to Hess' prized Guyana assets.

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