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Hess Sets Another Buyback, Winning Peace with Activist Investor

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Hess Corp. on Thursday said it would buy back an additional $1 billion in shares, heading off a potentially nasty proxy fight with activist hedge fund Elliott Management Corp. The share purchase announcement came one day before the company's deadline for nominating new directors. Elliott, which was weighing whether to seek the ouster of John Hess, the company's chief executive, is no longer expected to do so, a person familiar with the matter said...

Mentions: Management Hedge Fund Proxy Fight