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Stock Market & Financial Investment News

News Breaks
March 26, 2013
07:31 EDTHESHess Corp. urges investors to vote for its independent nominees
Hess Corporation sent a letter to all shareholders, which accompanied its definitive proxy materials filed in connection with its 2013 Annual Meeting of Shareholders, to be held on May 16. The Board recommends that shareholders vote for the election of its highly qualified independent nominees of Hess on the WHITE proxy card. Hess says "Despite the strong endorsement our plan has received from independent Wall Street analysts and our shareholders alike, Elliott Management – an activist hedge fund run by Paul Singer that only recently began accumulating Hess stock – is asking you to elect a slate of dissident directors who have already compromised their independence by agreeing to be paid directly by Elliott to support the hedge fund’s short term agenda. Under this highly unusual scheme, Elliott would control its directors by potentially paying them millions in cash to effectively dismantle Hess and all but foreclose the prospect of future value creation...Our eight incumbent directors have worked diligently to build Hess’ world class asset base and have positioned the company to achieve substantial long term growth by transforming Hess into a pure play E&P company. In addition to these distinguished directors, we have nominated five outstanding new independent candidates and appointed an additional independent director, who we believe represent the right mix of corporate leadership, operational and financial expertise, and top level E&P experience for the Hess we are becoming."
News For HES From The Last 14 Days
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August 14, 2014
17:41 EDTHESPoint72 Asset Management gives quarterly update on stakes
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17:16 EDTHESPaulson & Co gives quarterly update on stakes
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06:24 EDTHESLibya to restart exports from Es Sider oil port, WSJ reports
Libya will resume exports from Es Sider, its largest oil port, next week following a one-year disruption, sources tell the Wall Street Journal. Es Sider's preliminary loading plans involve six 60,000 barrel tankers drawing on oil stored at the terminal, split between state-owned National Oil Co, Hess (HES), ConocoPhillips (COP) and Marathon Oil (MRO). Reference Link
August 11, 2014
07:34 EDTHESHess suspends oil driling operations in Iraqi Kurdistan, Reuters reports
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