Legal Drama Unfolds Over Citgo Share Auction
A Delaware judge is reviewing the court-ordered auction of Citgo Petroleum shares. A $5.9 billion bid has been recommended as the winner, but Judge Leonard Stark requires briefings by October 15, oral arguments on October 20-21, and final replies by October 28 before making a decision.
- Country:
- United States
A Delaware judge is carefully reviewing the proceedings surrounding the court-ordered auction of shares in Citgo Petroleum's parent company. The $5.9 billion bid submitted by an affiliate of Elliott Investment Management is currently favored as the winning offer.
Judge Leonard Stark's decision is pivotal, yet it remains pending as he seeks comprehensive briefings by October 15. This preparatory phase also includes oral arguments scheduled for October 20-21.
With the final replies expected by October 28, the decision-making process will dictate the future course for Citgo Petroleum, drawing significant attention within the business and investment community.
(With inputs from agencies.)
- READ MORE ON:
- Citgo
- auction
- bid
- winner
- Delaware
- judge
- Leonard Stark
- decision
- Elliott Investment Management
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