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Chevron to buy Renewable Energy Group in $3.15B deal

Feb. 28, 2022 7:37 AM ETChevron Corporation (CVX)By: Carl Surran, SA News Editor13 Comments

Group of rows of green stacked biofuel drums in storage warehouse

scanrail/iStock via Getty Images

Renewable Energy Group (NASDAQ:REGI) +37.3% pre-market after Chevron (NYSE:CVX) agrees to acquire the sustainable fuels producer in an all-cash deal valued at $3.15B.

Under the deal terms, Chevron will pay $61.50/share, a ~40% premium over Friday's $43.81 closing price.

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Comments (13)

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Any idea how this will affect REGI shareholders? Will we get some fraction of CVX for REGI?
joezapp profile picture
@6BQ5 What part of $61.50 "all-cash" don't you understand?
@joezapp Here's where I might need a little help. I always thought all-cash deals meant the buyer was only going to pay in cash without the need for financing. What I don't know is how much of the company CVX is buying. Is it just a majority of the outstanding shares? 100% of the shares? I thought there might be an exchange of shares. Thanks.
pine-apple profile picture
@6BQ5 they buy all (including yours) shares for $ 61.50. Deals like this can take a while to close but then you Will lose your shares and get the cash
still below when I sold it at $85 last year :)
Perfect timing, 150 April calls @ 10 dollar average WHEW. I was hoping to eek out a few bucks, but this will be quite the payday :)
Ptcamd77 profile picture
What are other ideas as far as companies that could be taken over
reallybigfish profile picture
THey better do the right thing and keep this business going. It shouldn't be allowed for legacy oil monsters to buy out new alt energy companies. For the last 100 years, they bought them out and buried the tech.
@Esol Esek $3 billion says they won’t. This is the first $3B of $10B committed by Chevron. They’re also committed ideologues to the climate religion as they’ve signed on to the Paris accords and World Economic Forum agenda.
@Hardhat25 Well, I don't care if they're 'committed idealogues' or not so long as their ESG activities are accretive to earnings (which this purchase is).
Deebeeng profile picture
So much for the limit buy I had set on REGI
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