D.E. Shaw & Co., a top 15 shareholders in Hess Corp. (HES), plans to abstain from voting on the planned takeover by Chevron (CVX), becoming the second major investor this week to come out against the deal, Kevin Crowley of Bloomberg reports. D.E. Shaw will support a motion to delay the vote until there’s more clarity around Chevron and Hess’s arbitration case with Exxon Mobil (XOM), its managing director Jason Singer said in an interview with Bloomberg.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HES:
- Chevron preparing to sell North Sea oil assets, Reuters reports
- ISS recommends Hess holders abstain on Chevron $53B takeover, Bloomberg reports
- ISS recommends Hess shareholders abstain in Chevron merger vote, Bloomberg says
- Hess Corp. price target raised to $210 from $205 at Mizuho
- Hess Corporation Outlines Key Meeting Agendas and Merger Plans