US court inclined to deny Gold Reserve's move to disqualify Elliott bid for Citgo parent
10/09/2025 17:35
HOUSTON, Sept 10 (Reuters) - A Delaware court is inclined to deny a motion recently introduced by miner Gold Reserve GRZ.V to disqualify a rival bid from an affiliate of hedge fund Elliott Investment Management for the parent of Citgo Petroleum, Judge Leonard Stark said in a filing on Wednesday. The court is set to begin the final sale hearing in the court-organized auction of shares next week, before Stark makes a decision on the auction's winner. The hearing will follow the preliminary selection last month of a $5.9 billion bid from Elliott's affiliate Amber Energy as the best offer so far submitted in the auction. (Reporting by Marianna Parraga; Editing by Nathan Crooks) ((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))
Recent news on Gold Reserve
See all newsFactbox: Long fight over refiner Citgo progresses at US appeals court
Brief: Gold Reserve Files Response In Citgo Appeal, Supporting Venezuela's Request For Abeyance, Subject To Support Of United States
Brief: Gold Reserve Announces Intention To Commence Normal Course Issuer Bid
Brief: Gold Reserve Overcomes Rusoro Motion To Dismiss In Court Of Chancery
Brief: Gold Reserve Announces Intention To Make Further CVR/Bonus Settlement Offers, To Make Offers To Optionholders, And To Amend Equity Incentive Plan