Del.icio.us  Digg  facebook  MySpace  Twitter  Google  Bookmark Me  LinkedIn  StumbleUpon  Permalink

Merger of Energy Companies Closer

VeraSun Energy Corp. and US BioEnergy Corp. announced Jan. 2 that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for the proposed merger between VeraSun Energy and US BioEnergy. The merger remains subject to satisfaction of other conditions, including approval of the shareholders of both VeraSun Energy and US BioEnergy. It is anticipated the merger will be completed during the first quarter of 2008.

VeraSun Energy and US BioEnergy initially announced intentions to merge on Nov. 29, 2007. Upon completion of the merger, the combined company will have nine ethanol production facilities in operation and seven additional facilities under construction. By the end of 2008, the combined company is expected to have a total production capacity of more than 1.6 billion gallons per year from 16 operating biorefineries.

Source: Feedstuffs