Shareholder Alert: Ademi LLP investigates whether Hess Corporation has obtained a Fair Price in its transaction with Chevron
MILWAUKEE, Oct. 23, 2023 /PRNewswire/ -- Ademi LLP is investigating Hess (NYSE: HES) for possible breaches of fiduciary duty and other violations of law in its transaction with Chevron.
Click here to learn how to join the action https://www.ademilaw.com/case/hess-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Hess stockholders are expected to receive the equivalent of only $171 per share based on Chevron's closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion. The transaction agreement unreasonably limits competing transactions for Hess by imposing a significant penalty if Hess accepts a competing bid. Hess insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Hess' board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Hess common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/hess-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
