Poet To Buy VeraSun?
Poet, the largest US ethanol producer, has said that it is in "serious" talks on possible acquisitions in the alternative fuel industry, despite the economic downturn and falling crude oil price.
Without naming names, the obvious assumption everybody is making is that the private 10,000 farmer owned group is talking about VeraSun.
VeraSun, who went bankrupt at the end of last month, said Monday that it had received a nonbinding unsolicited indication of interest for the purchase of "substantially all of its assets."
A Poet acquisition would however potentially give them close to 25% of the US ethanol market triggering competition concerns.
Cargill and ADM are seen as other likely candidates to take on some, if not all, of VeraSun's 16 US facilities.
Without naming names, the obvious assumption everybody is making is that the private 10,000 farmer owned group is talking about VeraSun.
VeraSun, who went bankrupt at the end of last month, said Monday that it had received a nonbinding unsolicited indication of interest for the purchase of "substantially all of its assets."
A Poet acquisition would however potentially give them close to 25% of the US ethanol market triggering competition concerns.
Cargill and ADM are seen as other likely candidates to take on some, if not all, of VeraSun's 16 US facilities.
