Zacks Value Trader Highlights: JPMorgan, Barrick Gold, Verizon, Chevron and Kansas City Southern
In April 2019, Noble Energy, which is currently owned by Chevron (CVX), had approved the development of the Alen natural gas project.
Noble Midstream's unitholders will get 0.1393 Chevron shares for each unit held under the new agreement, Chevron said. As of Chevron's Thursday closing price, the offer translates to $14.55 per Noble Midstream share. The oil major's original offer, announced in February, envisioned Noble Midstream shareholders getting about $12.47 per share.