- Renewable Energy (NASDAQ:REGI) +2.2% premarket after agreeing to acquire Tyson Foods' (TSN) 50% ownership stake in Dynamic Fuels for $18M and up to $35M in future payments tied to production volume.
- The deal would give REGI full ownership of Dynamic Fuels and its 75M gal/year nameplate capacity renewable diesel biorefinery in Geismar, La., which was the first large scale renewable diesel biorefinery built in the U.S.
- The deal is contingent upon the closing of REGI's 2013 Syntroleum (SYNM) acquisition; TSN and SYNM formed Dynamic Fuels in 2007 as a 50/50 joint venture.