Noble Energy Shares Rise After Chevron Announces Takeover Deal
July 20 2020 - 7:05AM
Dow Jones News
By Dave Sebastian
Noble Energy Inc. shares rose about 9.8% in premarket trading
Monday after Chevron Corp. said it plans to buy Noble for about $5
billion.
The combination would be the largest oil-patch tie-up since the
Covid-19 pandemic delivered a shock to the industry. The deal was
first reported by The Wall Street Journal.
The all-stock takeover values Noble at $10.38 a share or 0.1191
Chevron share. The deal would represent a roughly 7.6% premium over
Noble's closing price of $9.65 on Friday. Including Noble's debt
load, the deal would be valued at about $13 billion.
Chevron shares were down about 1.3% in premarket trading.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 20, 2020 06:50 ET (10:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Chevron (NYSE:CVX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Chevron (NYSE:CVX)
Historical Stock Chart
From Apr 2023 to Apr 2024