Reported about 2 months ago
Elliott Investment Management is leading the bidding process for Citgo Petroleum Corp.'s parent company, currently undergoing court-ordered auction. Competing against firms like Vitol Group and Gold Reserve Inc., Elliott has been granted exclusive negotiation rights. The auction follows a lengthy legal battle stemming from claims by creditors amounting to $20 billion, and the final approval of the sale is pending government authorization.
Source: YAHOO