Hess investors to vote on Chevron deal amid growing postponement calls
)'s proposed $53 billion acquisition of the company, after many investors have called for a delay in hopes of obtaining a better offer for their shares.
Hess needs a majority of its 308 million outstanding shares to seal the all-stock deal with its shareholders and make it more difficult for other potential rivals to outbid Chevron. The Chevron acquisition was thrown into doubt after Exxon and CNOOC filed an arbitration claim against the sale.), which hold a combined 15% of Hess' shares, could tip the balance in the vote, given the push by arbitrage funds to adjourn the meeting until the arbitration claim is resolved.
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