Chevron agrees to take over Nobel for USD 5 billion
PTI, Jul 20, 2020, 5:45 PM IST
New York: Chevron will take over Noble Energy for USD 5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector.
Chevron, based in San Ramon, California, has been shopping for assets since last year and with crude prices down more than 30 percent this year, it jumped Monday with it”s all-stock offering.
Based on Chevron’s closing price on Friday, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total enterprise value of the deal, including debt, is USD 13 billion.
Noble is based in Houston, Texas.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
MUST WATCH
Latest Additions
NIA arrests key accused in 2023 attack on Indian High Commission in London
Three persons run over by train in Bengaluru
Indian nationals aboard ‘MSC Aries’ in good health, return delayed due to technicalities: MEA
Husband has no control over wife’s ‘stridhan’: SC
IT sleuths threatening raided leaders to claim money belongs to me, Cong: DK Shivakumar