Del. Court Tosses Challenge To $13B Noble-Chevron Merger

By McCord Pagan (January 26, 2022, 7:32 PM EST) -- A Delaware court on Wednesday tossed out a lawsuit challenging Noble Energy Corp.'s $13 billion merger with Chevron Corp. in 2020, dismissing arguments from investors that they should have been informed about a potential partial sale offer made years earlier.

Delaware Vice Chancellor Sam Glasscock III dismissed the class action lawsuit filed by stockholders Stephanie Galindo and David Walsh against the former directors for Noble, which accused management insiders of neglecting to disclose a 2018 offer from U.K.-based Cynergy Capital Ltd. for Noble's drilling rights in the eastern Mediterranean to assure personal gains from a full change of control.

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