Noble shareholders can’t get a break - market cap if Noble declined from $5 billion the day the buyout was announced to $4.2 billion at today’s closing of the deal. Granted CVX shares have also pulled back a bit, but either way it’s still a sweeter deal for Chevron.
Unlike those of us at Noble, Chevron is saying “thanks DS, we could never have done this without you”.
For 80+ years, Samedan/Nible created value organically for its shareholders. DS & co. wiped that out in a few short years, left the company with now growth possibilities, and delivered a cherry to CVX. Well done......