Proxy adviser Glass Lewis urges Hess shareholders accept Chevron takeover offer
The proposed deal terms provides a reasonable valuation and offers the potential for upside to Hess shareholders. The strategic and financial merits of the proposed merger "are sound and reasonable, on balance," Glass Lewis said in its recommendation.
Proxy advisory firms have split recommendations. Top U.S. advisor Institutional Shareholder Services urged shareholders abstain from voting on the deal and allow more time for details on the arbitration process with Exxon to emerge.
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