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
