Did Chevron's Big Acquisition Happen at the Perfect Time?

Big acquisitions are always risky, so it was hardly shocking to see that Chevron's (NYSE: CVX) $53 billion deal to buy Hess didn't go as smoothly as planned. However, the delays caused by Chevron's main U.S. competitor may have been a good thing. Here's why Chevron's delayed purchase of Hess was close to the perfect outcome.Chevron announced its agreement to buy Hess on Oct. 23, 2023. Almost instantly, ExxonMobil (NYSE: XOM) threw down a yellow card, calling a foul because it had a business relationship with Hess. It all boiled down to legal language around a large and important joint project. If Exxon was correct, the joint project could have been excluded from the acquisition, effectively killing Chevron's deal.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool