Replies to post #182 on Hess Corporation (HES)

[DewDiligence]

Addendum: Other components of HES’ counter-proposal to Elliott are: i) to increase the dividend to an annual rate of $1.00 (from $0.40 currently); and ii) to buy back up to $4B of stock, which represents 15-20% of the shares outstanding based on the current share price.

[DewDiligence]

HES’ letter to shareholders is essentially a text-only version of the slides from yesterday’s CC (#msg-85271829):

http://finance.yahoo.com/news/hess-corporation-issues-letter-shareholders-120500422.html

The purpose of addressing shareholders directly is to prevent them from voting for Elliott’s BoD nominees at the upcoming annual meeting.

[DewDiligence]

HES +3% on solid 1Q13 earnings: #msg-87217984.