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US court inclined to deny Gold Reserve's move to disqualify Elliott bid for Citgo parent
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US court inclined to deny Gold Reserve's move to disqualify Elliott bid for Citgo parent
Sep 10, 2025 10:10 AM

HOUSTON, Sept 10 (Reuters) - A Delaware court is

inclined to deny a motion recently introduced by miner Gold

Reserve ( GDRZF ) 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.

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