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Dispute Over $53B Chevron-Hess Merger Heats Up, Arbitration Panel Nears Formation: Report

The final member has been appointed to a three-person arbitration panel tasked with resolving the Exxon Mobil Corporation (NYSE:XOM) dispute over Chevron Corporation (NYSE:CVX)’s $53 billion acquisition of Hess Corporation (NYSE:HES). Each side appoints one arbitrator, and those two then jointly select the third member to complete the three-person panel, reported Reuters. The report cited one of the people familiar with the matter stating, “The appointment of the full arbitration panel is now being completed. We expect to learn more about the (proceedings) schedule in the coming weeks.” Related: Chuck Schumer Says Trump Might Be ‘Hosting ...