US Judge Rejects Blue Water's Bid to Delay Citgo Parent Company's Sale Hearing
Court Decision on Bid Extension: A Delaware judge denied Blue Water Acquisition Corp's request to extend the final sale hearing for Citgo Petroleum's parent company, PDV Holding, despite their $10 billion bid which included a $3.2 billion settlement for bondholders.
Current Auction Status: The auction is currently led by a $5.9 billion bid from an affiliate of Elliott Investment Management, with a final decision on the winning bid expected after the ongoing hearing.
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US Judge Rejects Blue Water's Bid to Delay Citgo Parent Company's Sale Hearing
Court Decision on Bid Extension: A Delaware judge denied Blue Water Acquisition Corp's request to extend the final sale hearing for Citgo Petroleum's parent company, PDV Holding, despite their $10 billion bid which included a $3.2 billion settlement for bondholders.
Current Auction Status: The auction is currently led by a $5.9 billion bid from an affiliate of Elliott Investment Management, with a final decision on the winning bid expected after the ongoing hearing.
Blue Water offers $10 billion for Citgo's parent company.
Blue Water Acquisition Corp's Bid: The company has submitted a $10 billion offer for PDV Holding, the parent of Citgo Petroleum, which includes a $3.2 billion settlement for holders of a defaulted Venezuelan bond.
Court Proceedings and Competition: A U.S. court is overseeing the bidding process, with recent changes in recommended winners, and a final sale hearing is expected in mid-September to determine the auction's outcome.
US Judge Rejects Blue Water's Bid to Delay Citgo Parent Company's Sale Hearing
Court Decision on Bid Extension: A Delaware judge denied Blue Water Acquisition Corp's request to extend the final sale hearing for Citgo Petroleum's parent company, PDV Holding, despite their $10 billion bid which included a $3.2 billion settlement for bondholders.
Current Auction Status: The auction is currently led by a $5.9 billion bid from an affiliate of Elliott Investment Management, with a final decision on the winning bid expected after the ongoing hearing.
Blue Water offers $10 billion for Citgo's parent company.
Blue Water Acquisition Corp's Bid: The company has submitted a $10 billion offer for PDV Holding, the parent of Citgo Petroleum, which includes a $3.2 billion settlement for holders of a defaulted Venezuelan bond.
Court Proceedings and Competition: A U.S. court is overseeing the bidding process, with recent changes in recommended winners, and a final sale hearing is expected in mid-September to determine the auction's outcome.
