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Noble Shareholders Approve $4.1 Billion Takeover by Chevron

(Bloomberg) — Noble Energy Inc. shareholders approved the company’s acquisition by Chevron Corp., cementing one of the U.S. oil industry’s biggest transactions this year.The vote on Friday during a virtual shareholder meeting came despite opposition from Elliott Management Corp. The activist hedge fund was said to seek a break-up of the deal because it thought Chevron wasn’t paying enough. The biggest proxy-advisory firms disagreed and urged investors to support the tie-up.When Chevron agreed to buy Noble in an all-stock deal in July, the offer was valued at $5 billion and represented a premium of about 7.5% to the target company’s …read more […]

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A Biden victory could weigh on stock market's winners

Investors on Wall Street can add another layer of uncertainty to a market already unnerved by last month’s sell-off, stalled fiscal stimulus and President Donald Trump’s COVID-19 diagnosis, which weighed on stocks on Friday. A higher capital gains tax that could accompany a win by Democratic presidential nominee Joe Biden is also emerging as a potential counterweight to this year’s powerful rally in stocks. Biden has proposed https://br.reuters.com/article/uk-factcheck-biden-trump-proposed-taxes/fact-check-comparison-of-proposed-taxes-under-biden-and-trump-looks-at-highest-tax-bracket-only-idUSKBN2672GE taxing capital gains and dividends as ordinary income, which would increase the tax rate from 20% to 39.6% for individuals and couples earning over $1 million, the highest tax bracket. …read more […]

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Forget Amazon: In Europe, Small Caps Are Pandemic’s Big Winners

(Bloomberg) — While Amazon.com Inc. and its FANG cohort have grabbed the headlines, some of the biggest stock-market winners in Europe during the coronavirus pandemic may be companies you’ve never heard of.Investors seeking stellar returns have been snapping up shares of small companies that range from e-commerce merchants to mobile-game makers. Shares of German retailers Westwing Group AG and Home24 SE and Sweden’s Lyko Group AB and Boozt AB have more than doubled this year, outpacing Amazon’s gain of about 70%. Away from retail, LoopUp Group Plc, which makes software for video conference calls, and game maker G5 Entertainment AB …read more […]

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Noble Energy shareholders approve $4.1 billion sale to Chevron

Noble Energy shareholders on Friday approved a deal to sell the oil and gas producer to Chevron Corp, making Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets. The all-stock deal values Noble Energy at around $4.1 billion, excluding $8 billion in debt, and the vote cements the first big energy deal since the coronavirus crushed global fuel demand. The addition of Noble will boost Chevron’s U.S. shale oil holdings, making it the No. 2 producer behind EOG Resources, according to data from Rystad Energy. …read more […]