Hess (HES) Ramps on Divestiture News
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Hess (HES) Looks to Exit Terminals, Sell Refinery in Transition to E&P Company
January 28, 2013 11:05 AM ESTHess Corp (NYSE: HES) is looking to exit the refining business while simultaneously getting interest from a private equity firm looking to gain more control over management.
Earlier, the company issued a press release stating it was looking to sell its U.S.... More
Hess (HES) Receives Hart-Scott-Rodino Notification Notice from Elliott Associates
January 28, 2013 8:42 AM ESTHess Corporation (NYSE: HES) announced today that Elliott Associates, L.P. and its associated entity Elliott International Limited notified Hess this past Friday in writing that they intend to file a Hart-Scott-Rodino Notification and Report Form seeking regulatory clearance to acquire additional Hess shares... More
Hess (HES) to Sell U.S. Terminal Network; Taps Goldman to Advise
January 28, 2013 8:31 AM ESTHess Corp. (NYSE: HES) will pursue the sale of its terminal network in the United States. Hess also announced that it will complete its exit from the refining business by closing its Port Reading, New Jersey refinery.
The terminal network is located along the U.S. East Coast and has a total of 28 million barrels of storage capacity in 19 terminals, 12 of which have deep water access. The terminals previously served as the primary outlet for Hess share of production from its HOVENSA joint venture refinery,... More
