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Elliott-Linked Firm Makes Best Bid for Citgo
A company affiliated with hedge fund Elliott Management has emerged as the frontrunner in the bidding for the parent company of U.S.-based Citgo, the Venezuelan refiner that has been locked in disputes for years now. Amber Energy has made a better bid than the previous frontrunner, a consortium led by mining company Gold Reserve, Reuters reported, citing court documents. Now, the consortium must improve its bid to match Amber Energy’s or lose its chance of acquiring PDV Holding. The Gold Reserve-led bid amounted to $7.4 billion in total.…