FTC reopens, sets aside Chevron-Hess final order
Written by Emily J. Thompson, Senior Investment Analyst
FTC Reopens Consent Order: The Federal Trade Commission has reopened and set aside the final consent order regarding Chevron's acquisition of Hess Corporation, which previously restricted Hess CEO John B. Hess from joining Chevron's board due to concerns about potential alignment with OPEC's production decisions.
Lack of Antitrust Violations: The FTC concluded that the original complaint did not demonstrate any antitrust violations or competitive harm from the acquisition, leading to a unanimous decision to grant Chevron's and Hess's petition in the public interest.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
