VeraSun announced in a press release that it had received indication from an interested buyer.
VeraSun Energy Corporation (VSUNQ), one of the nation’s largest ethanol producers, today announced that it recently received a non-binding unsolicited indication of interest with respect to the purchase of substantially all of its assets. The Company intends to pursue this indication of interest to its conclusion and evaluate other proposals it may receive in accordance with its obligations as a debtor in possession under chapter 11 of the Bankruptcy Code. The indication of interest received by the Company is subject to significant conditions, and there can be no assurance that it will result in the consummation of a transaction, that the Company will receive any other offers or indications of interest, that the Company will be able to complete any alternative transaction or that any transaction or transactions would generate proceeds sufficient to satisfy the claims of all of the Company’s stakeholders.
Due to confidentiality considerations, the identity of the third party and the terms of its indication of interest were not disclosed.
The company says that it plans to explore this and any other potential proposals.
Source : VeraSun Press Release