US FTC finalizes consent order for $53 bln Chevron-Hess merger

Reuters - 18/01
The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess .
  • Chevron Corp
    Follow
  • Hess Corp
    Follow
  • Exxon Mobil Corp
    Follow
Jan 17 (Reuters) - The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's (CVX.N), opens new tab $53 billion takeover of Hess (HES.N), opens new tab.
According to the order, John Hess, CEO of the oil and gas producer, will be barred from joining the combined company's board over allegations that he communicated with oil producers' group OPEC during its efforts to curtail production.
Though the proposed takeover has cleared the FTC's antitrust review, one last ...
[Short citation of 8% of the original article]