Mike Wirth, CEO of Chevron (CVX), and John Hess, CEO of Hess (HES), explain why the two companies decided to merge in a $53 billion deal. Chevron will pay $171 per share for Hess, a premium of around 10% to the 20-day average price, according to a statement from the two companies. Both executives emphasize that the merger will bring resource, production and cash flow growth to Chevron, while Hess will benefit from Chevron's financial strength and diversity of world-class assets.
 
(MT Newswires)

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