$2 or higher gas - Can ethanol make a comeback? Message Board

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Non-Tech : $2 or higher gas - Can ethanol make a comeback?

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Oct 31 9:30 AM EST

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From: richardred	9/29/2010 12:33:36 AM
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Green Plains Renewable to acquire Globe Ethanol Green Plains Renewable Energy to buy Globe Ethanol in $169.2 million deal to boost capacity On Tuesday September 28, 2010, 6:03 pm EDT OMAHA, Neb. (AP) -- Green Plains Renewable Energy Inc. said Tuesday it will acquire Global Ethanol LLC in a $169.2 million deal that will increase its ethanol-producing capacity by nearly one-third. Green Plains will acquire Global's two ethanol plants, in Lakota, Iowa, and Riga, Mich., which will boost its annual ethanol-producing capacity by 31 percent to about 657 million gallons. The purchase price is comprised of 4.4 million shares of Green Plains' restricted common stock, warrants to purchase 700,000 restricted common shares and $20 million in cash. The transaction also includes the assumption of about $98.7 million of outstanding debt. Green Plains said the warrants will not be transferrable, except in limited circumstances, and will be exercisable for three years after the closing date at a price of $14. The transaction is expected to close in the fourth quarter pending regulatory approvals. The acquisition was announced after the markets closed Tuesday. Green Plains' shares closed the regular session up 82 cents, or 7.5 percent, at $11.70. finance.yahoo.com

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