Chevron, Hess received Second Request for info from FTC on deal

In a regulatory filing, Chevron (CVX) noted that as previously disclosed, on October 22, Chevron entered into an agreement and plan of merger with Hess Corporation (HES). The merger is conditioned on, among other things, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Pursuant to the HSR Act, Hess and Chevron filed notification and report forms with the Department of Justice and the Federal Trade Commission. On December 7, Chevron and Hess each received a request for additional information and documentary materials, or the “Second Request,” from the FTC in connection with the FTC’s review of the merger. “Issuance of the Second Request extends the waiting period imposed by the HSR Act until 30 days after Chevron and Hess have substantially complied with the Second Request, unless that period is extended voluntarily by Chevron and Hess or terminated sooner by the FTC. Both Chevron and Hess expect to promptly respond to the Second Request and to continue to work cooperatively with the FTC in its review of the Merger,” the filing stated.