Chevron Tie-Up with Noble Said Facing Pushback by Activist Investor Elliott

Chevron Corp., whose buyout of Anadarko Petroleum Corp. was scuttled last year, now is said to be facing obstacles to take over Noble Energy Inc.

The San Ramon, CA-based major in July clinched a definitive agreement to acquire Houston super independent Noble in an all-stock transaction worth an estimated $5 billion that carries a total enterprise value, including debt, of $13 billion. Chevron had agreed in 2019 to combine with Anadarko, but Occidental Petroleum Corp. scuttled that deal with a $57 billion offer.

Now the Noble deal apparently is facing pushback from New York City-based Elliott Management Corp., a hedge fund run by Paul Singer. 

Elliott took an undisclosed stake in Noble after the Chevron deal was announced, according to a filing with the Federal Trade...