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


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.

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Comments (5)
  • ComputerBlue
    , contributor
    Comments (1328) | Send Message
     
    What assets? They don't have any plants.
    31 Mar 2014, 05:29 PM Reply Like
  • UPstocks
    , contributor
    Comment (1) | Send Message
     
    They should close this site as it cause all the pumps
    31 Mar 2014, 06:08 PM Reply Like
  • EquityTrader1975
    , contributor
    Comments (409) | Send Message
     
    I imagine he sold out, and it the 18M trade swirl, he only held 1.5 million shares. and the offer deal will fall thru. he wont be holding any shares next filing
    1 Apr 2014, 02:46 PM Reply Like
  • afberry
    , contributor
    Comments (3) | Send Message
     
    This article is wrong. The proposal was for BIOF to purchase a home building company (JBGL) for 275 million, and was not a proposal to purchase BIOF for $275 million. Also, if the proposal is accepted, Greenlight would own 49.9% of BIOF and Brickman would own 8.4%. (There aren't purchasing 64.5% of the company they don't already own.)
    27 Apr 2014, 09:18 PM Reply Like
  • ComputerBlue
    , contributor
    Comments (1328) | Send Message
     
    All about tax losses.
    http://bit.ly/1olufjt
    28 Apr 2014, 08:26 AM Reply Like
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