secwatch.observer — SEC 8-K summary
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Issuer:     CHEVRON CORP (CVX)
CIK:        0000093410
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0000950142-23-002657
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chevron to acquire Hess in $53B all-stock deal, $171/share, expected close H1 2024
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- All-stock transaction valued at $53B ($171/share); Hess holders get 1.0250 Chevron shares per share.
- Total enterprise value including debt is $60B; premium of 10.3% based on 20-day average.
- Expected to close first half 2024, subject to Hess shareholder and regulatory approvals.
- After close, Chevron intends to increase share repurchases by $2.5B to $20B/year; dividend increase of 8% to $1.63/share recommended.
- John Hess expected to join Chevron Board of Directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/93410/000095014223002657/0000950142-23-002657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/93410/000095014223002657/eh230413256_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-23-002657

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