US Court Shows Favor Toward Rejecting Motion Against Elliott's Bid for Citgo Parent Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 10 2025
0mins
Source: Reuters
Court Proceedings: A Delaware court is likely to deny Gold Reserve's motion to disqualify a rival bid from Elliott Investment Management's affiliate, Amber Energy, for shares of Citgo Petroleum, with a final sale hearing scheduled next week.
Bidding Controversy: The court has preliminarily selected Amber Energy's $5.9 billion bid as the best offer, despite objections from Gold Reserve and others regarding the impact of a $2.1 billion payment to defaulted bondholders on other creditors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
