Citgo Bidding Opened to Others to Try to Top Elliott Firm [Yahoo! Finance Canada]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Judge Leonard Stark ordered the bidding for the company to be reopened, allowing for new offers to be submitted. Any proposal would have to top the $7.3 billion bid made by an affiliate of Elliott earlier this year. Stark, who heard arguments on the matter on Dec. 13 in Wilmington, Delaware, has now cleared the way for other creditors — including Gold Reserve, Crystallex International Corp. and Red Tree Investments LLC. The decision puts a new twist on a years-long legal battle over control of the parent of Citgo, a Venezuela-owned foreign asset that operates three refineries in the US, pipelines, terminals and fuel distribution channels. The proceeds of the sale will pay back a long list of creditors that are collectively owed around $20 billion by the Venezuelan government and its state-owned oil company, Petroleos de Venezuela SA, over asset seizures in the country. Crystallex, which saw its Venezuelan gold mines seized by the late President Hugo C
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News
- Why Exxon Mobil (XOM) Is a Top Dividend Stock for 2025 and Beyond [Yahoo! Finance]Yahoo! Finance
- Citgo Bidding Opened to Others to Try to Top Elliott Firm [Yahoo! Finance]Yahoo! Finance
- US LNG gas demand hits record high on last day of the year [Yahoo! Finance]Yahoo! Finance
- 4 Vanguard ETFs That Can Serve as a Complete Capital Appreciation and Passive Income Portfolio [Yahoo! Finance]Yahoo! Finance
- Exxon Mobil (XOM) Stock Moves -0.68%: What You Should Know [Yahoo! Finance]Yahoo! Finance
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