BioFuel Energy +132% after Einhorn proposal, most alt fuels also higher

|About: BioFuel Energy Corp. (BIOF)|By:, SA News Editor

Shares of BioFuel Energy (BIOF +132.4%) more than double after the company received a $275M buyout proposal late Friday from Greenlight Capital and James Brickman of JBGL Funds for the 64.5% of the company they don't already own.

Greenlight's David Einhorn and Brickman said the proposal provides an opportunity to acquire an interest in a business with long-term equity potential and an attractive portfolio of assets.

BIOF said its board will establish a special committee of independent directors to evaluate the transaction, as well as alternatives for the company.

The move is providing a lift for most other alternative energy companies: KIOR +39.7%, GPRE +3.7%, REGI +4.4%, SYNM +5.9%, REX +0.1%, PEIX -1.9%, GEVO flat.