After nearly two years of legal limbo and uncertainty, Chevron (NYSE:CVX) has officially sealed its $53 billion acquisition of Hess Corp.and merger arbitrageurs are walking away with a big win. Top hedge funds like Citadel Advisors,

Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.

Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana.

Hess Midstream offers stable returns via a fee-based model and Hess Corp partnership, but risks like concentration and debt loom. See more on HESM here.

Forty-odd years after leaving the employ of the refinery, the St. Lucian-born Edward was diagnosed with multiple myeloma, a cancer of the blood's plasma cells. According to the lawsuit, Mr. Edward was diagnosed in July 2023, and died at the end of September 2024.

Hess Corp.'s planned $53 billion sale to Chevron Corp.—which could close imminently if an arbitration panel rejects a challenge by Exxon Mobil Corp.—was likely engineered to favor CEO John Hess, according to a lawsuit filed Thursday.

Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.

The share price of Hess Corporation (NYSE:HES) surged by 6.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. Hess Corporation (NYSE:HES) is a leader in deepwater development and production,