US judge denies Blue Water’s request to extend Citgo parent’s sale hearing

HOUSTON (Reuters) -A request by special purpose acquisition company Blue Water to extend a final sale hearing in the U.S. court-ordered auction of shares of Citgo Petroleum’s parent to consider its bid was denied by a Delaware judge on Monday.

Blue Water Acquisition Corp last week submitted an offer valued at $10 billion for the parent of Venezuela-owned refiner Citgo, which included a $3.2 billion settlement proposal to holders of a defaulted Venezuelan bond. The bid arrived after deadlines for submitting and improving bids.

(Reporting by Marianna Parraga)