US FTC to delay decision on Chevron-Hess deal during Exxon arbitration, Bloomberg reports

The U.S. Federal Trade Commission plans to delay its decision on whether to block Chevron’s (CVX.N), opens new tab $53 billion takeover of Hess (HES.N), opens new tab until after an arbitration case with Exxon Mobil (XOM.N), opens new tab is settled, Bloomberg News reported on Thursday, citing unnamed sources.

The deal, which was initially planned to close in the first half of the year, had already stalled after Exxon in March filed for arbitration, claiming a right of first refusal over Hess’ valuable assets in Guyana.

Source: REUTER