The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil’s claim against Chevron’s $53 billion purchase of Hess Corp, two people familiar with the matter told Reuters. The panel’s formation would be a milestone in a long-delayed process that has cast uncertainty over the mega-merger, which both Chevron and Hess had hoped would close in the first half of 2024. Exxon filed the arbitration claim with the International Chamber of Commerce (ICC) in March, arguing that it has a right of first refusal over Hess’s assets in Guyana.
Yahoo! Finance: HES News
