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10/5/2020, 2:45 PM (Source: TeleTrader)
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Chevron completes $5B acquisition of Noble Energy

Chevron Corporation announced on Monday it completed its acquisition of Noble Energy after the latter's shareholders approved the agreement.

"We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is expected to deliver strong financial benefits," Chevron CEO Michael Wirth stated.

In July, Chevron entered a definitive agreement to buy Noble Energy for $5 billion in an all-stock transaction and said it would finalize it in the fourth quarter of 2020.

Breaking the News / NP