FTC seeks more information on $53 bln Chevron-Hess deal (updated)
08/12/2023 13:25
(Adds background in paragraphs 2,4)
Dec 8 (Reuters) - The U.S. Federal Trade Commission has
sent a second request to Chevron CVX.N and Hess HES.N , for
additional information and documentary materials related to
their $53 billion deal, the companies said on Friday.
U.S. lawmakers have sought increased scrutiny by the FTC over
multi-billion dollar deals. Last month, U.S. Senate Majority
Leader Charles Schumer and 22 other Democratic senators had
written to the agency saying such acquisitions could lead to
higher prices for consumers.
The companies said they would respond to the request and
cooperate with the FTC. The deal was announced in October.
Earlier this week, Exxon Mobil XOM.N and Pioneer Natural
Resources PXD.N received similar requests from the FTC related
to their $60 billion merger.
(Reporting by Sourasis Bose in Bengaluru; Editing by Arun
Koyyur)
((Sourasis.Bose@thomsonreuters.com;))