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...Discover’s stock is trading at a roughly 15 per cent discount to the all-stock deal price, reflecting investor doubts about the acquisition....
...Shares in Hess fell 4 per cent in after-hours trading, while Chevron’s dropped 1 per cent. Exxon’s shares were little changed....
...But Woods said on Monday that the company had no interest in acquiring Hess itself....
...Mikells reiterated Exxon’s belief that it had a pre-emption right to Hess’s Guyana asset....
...bigger push into energy and raw materials....
...The top US energy supermajor said on Wednesday that it had filed a case in the International Chamber of Commerce in Paris to assert its right of first refusal over Hess’s stake in the so-called Stabroek...
...Hess would then revert to a standalone company, albeit without an embedded takeover premium owing to the confirmed Exxon overhang....
...It also asked whether people agreed that “time spent thinking about overnight trading would be better spent on regular market hour trading”....
...An attorney for Jane Street told Engelmayer that the firm had invested “tens of millions of dollars” into the development of the trading scheme....
...Hess stock has more than doubled since 2020. The company had previously tangled with activist investor Elliott....
...On Friday the company was trading at $33.92 after soaring over the past two days, but the price remains well below its intraday peak of $79.38....
...Hess then would simply revert to a standalone company (and its banker Goldman Sachs would be out a $76mn success fee)....
..., with Exxon arguing it has the right of first refusal over Hess’s stake in the Guyanese development.On Monday, Exxon chief Darren Woods insisted the conflict would not undermine the companies’ ability to...
...The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
...MEG Energy appointed Darlene Gates as president and chief executive of the Canadian oil sands company, succeeding Derek Evans....
...Hess’s chief executive John Hess, who is expected to join Chevron’s board, said the merger would create a “premier integrated energy company”....
...In recent years John Hess, 69, has been a strong advocate of taking a nuanced approach to the energy transition....
...But smaller energy companies (EQT, Hess, Targa) have offer a lot of growth at reasonable prices. Another sector where it looks like value might be hiding? Insurance. Some stocks of interest....
...Citadel was last year named the most successful hedge fund of all time and has made large profits trading commodities....
...“I have sat here for 22 years as the chair and CEO of this company since we went public and I’ve seen nothing but competition. So this is no different....
...The companies said they expected the deal to close by late 2024 or early 2025....
...The offer, which values the shares at 620p each, represents a 20 per cent premium to Thursday’s closing share price and sent Darktrace’s shares up 19 per cent in early trading in London on Friday....
...UK-based BP and Shell have complained that their valuations have lagged behind Exxon and Chevron, believing that is partly down to greater pressure on energy companies in Europe to embrace the clean energy...
...her US Ark Innovation and Ark Genomic Revolution ETFs, as well as a third strategy “tailored specifically for the European market” focusing on artificial intelligence and robotics, are expected to start trading...
...Shares rose about 11 per cent in pre-market trading on Friday, positioning Alphabet to add more than $200bn to its market capitalisation and push above $2tn, where it would join “Magnificent Seven” peers...
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