Daily Management Review

Chevron to merge with Noble Energy, shareholders approve


US Noble Energy Inc.Shareholders greenlighted the upcoming merger with Chevron Corp.

Tony Webster
Tony Webster
The deal, unveiled in July 2020, will become one of the largest in the industry since the COVID-19 pandemic started.

The deal is essentially a swap of shares: shareholders of Noble Energy will be given 0.1191 shares of Chevron for each paper they own. The sum of the deal amounts to $5 billion based on Chevron's share value at the moment of signing the deal.

The companies will finish the merger in Q4 2020, Noble Energy noted. As a result, the shareholders of Noble Energy will have around 3% in the new company.

source: bloomberg.com