Assertion: gulf | /r/CapableOf | renege on its buyout offer
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text: Once Pickens was gone, Gulf reneged on its buyout offer, supposedly over a dispute regarding accuracy of Cities Service's reserves, and the stock price of Cities plunged, triggering stockholder lawsuits as well as distrust for Gulf's management on Wall Street and among financing investment banks who bet big in assisting Gulf to defeat Mesa only to be left broke when Gulf backed out.[citation needed]