Gold Reserve waiting period under Hart act ends early

Executive Summary

• The FTC granted early termination of the Hart‑Scott‑Rodino waiting period, clearing Gold Reserve’s proposed acquisition of PDVH shares (via Dalinar Energy) of antitrust concerns.
• Gold Reserve filed a motion to strike the special master’s notice declaring Amber Energy’s bid as “superior,” arguing it violates court orders and undervalues the judgment creditor claim.
• The Delaware court ordered partial unsealing of transcripts from the special master’s ex‑parte conferences; Gold Reserve may object to redactions.

Key Details

• FTC Approval (Aug 27, 2025): Letter from the Federal Trade Commission terminates the HSR waiting period immediately, indicating no antitrust issues with Gold Reserve’s acquisition of PDVH shares through Dalinar Energy Corp.
• Court Filing: Gold Reserve filed notice of this regulatory approval with the U.S. District Court for the District of Delaware; documents will be posted publicly.
• Motion to Strike Superior‑Proposal Notice: Filed Aug 27, 2025, challenging the special master’s determination that Amber Energy’s ~$5.859 billion bid is superior to Dalinar Energy’s $7.382 billion offer.
• Claims the special master’s decision contravenes court orders and would shortchange judgment creditors by ~$1.5 billion.
• References Gold Reserve’s commitment of a $1.3 billion judgment and required over‑bid thresholds ($50 million over bid + $30 million expense reimbursement).
• Procedural Deadlines:
• Responses to the motion due Sept 5, 2025.
• Replies in support due Sept 11, 2025.
• Court hearing scheduled to begin Sept 15, 2025.
• Unsealing of Transcripts (Court Order Aug 26, 2025): Partial redacted transcripts from the special master’s Aug 11 and Aug 13 ex‑parte conferences filed on docket.
• Gold Reserve may object to redactions; special master must respond within two business days, with a possible reply from Gold Reserve the following day.
• Public Access: All filings, motions, exhibits, and transcripts will be posted for public review; full case details available via the Crystallex International Corp. v. Bolivarian Republic of Venezuela docket (1:17‑mc‑00151‑LPS, D.Del.).

Notable Quotes

(No direct quotes provided in the release.)