Group Of Creditors Hire Investment Banker Centerview Partners As They Weigh Bid For Shares Of Citgo's Parent; The Creditor Group Wants ConocoPhillips To Join Its Bid On Citgo, Conoco As-Yet Undecided; Elliott Investment Management, PBF, Koch Industries Also Weighing Bids In Citgo Court Auction
Portfolio Pulse from Benzinga Newsdesk
A group of creditors has hired Centerview Partners to explore a bid for shares of Citgo's parent company. They are encouraging ConocoPhillips to join their bid, though ConocoPhillips remains undecided. Elliott Investment Management, PBF, and Koch Industries are also considering bids in Citgo's court auction.
April 18, 2024 | 4:32 pm
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ConocoPhillips is being encouraged by a creditor group to join a bid for shares of Citgo's parent company, though it remains undecided.
ConocoPhillips's involvement in the bid for Citgo's parent company shares is still uncertain, making the short-term impact on its stock neutral. However, the situation warrants attention due to the potential strategic implications and the influence of other major entities like Elliott Investment Management, PBF, and Koch Industries showing interest.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70