Hess Investor D.E. Shaw to Abstain From Vote on Chevron Deal (2)

D.E. Shaw & Co., one of the top 15 shareholders in Hess Corp., plans to abstain from voting on the oil company’s $53 billion takeover by Chevron Corp., becoming the second major investor this week to come out against the deal.

The New York-based investment firm will support a motion to delay the vote until there’s more clarity around Chevron and Hess’s arbitration case with Exxon Mobil Corp., managing director Jason Singer said in an interview. Exxon believes it has a right-of-first refusal over Hess’s most valuable asset — a 30% stake in Guyana’s Stabroek Block, ...