Chevron's $53 billion acquisition of Hess Corp. will include one of America's best-selling toys, the company clarified.
After Chevron shelled out $53 billion for Hess Corp., the oil giant made a deal of its own, telling customers its iconic Hess Truck will remain a holiday staple. "IMPORTANT ANNOUNCEMENT FROM HESS: Earlier this morning Hess Corporation announced an agreement to be acquired by Chevron. We want to reassure all of you, our loyal fans, that the Hess Toy Truck, a long-standing and cherished tradition, will continue for future years!" the company shared on social media and via email.
Additionally, the development is closely guarded and takes years. "The highly secretive process of developing the annual toy generally starts between two and three years before it actually goes on sale. And for some of the more complicated toys, it's been as long as six years from concept to market." Chevron announced plans to acquire Hess for $53 billion or $171 per share to beef up the company's assets, including in the coveted region Stabroek block in Guyana.
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