Summary by Futu AI
On May 28, 2024, Chevron Corporation announced that the majority of Hess Corporation shareholders approved a merger between the two companies. Chevron is moving forward with the Federal Trade Commission (FTC) regulatory process and anticipates its conclusion in the coming weeks. The company also expects a favorable outcome in arbitration regarding preemption rights, which is a step towards finalizing the transaction. This merger is subject to various forward-looking statements, which involve uncertainties and risks that could cause actual results to differ materially from expectations. These risks include obtaining regulatory approvals, potential delays, integration challenges, and the realization of anticipated benefits and synergies within the expected timeframe. The merger is also subject to the resolution of ongoing arbitration proceedings. Chevron and Hess have filed relevant documents with the U.S. Securities and Exchange Commission (SEC), including a registration statement, a preliminary prospectus, and a definitive proxy statement, which are available for investors and stockholders to review.