Ethanol is enjoying favorable crush spreads at the moment. That won't last. If it ever appeared to be lasting, then people would simply build more ethanol plants. ADM for example.
Short term the corn price decline and the sugar rise is certainly helping US ethanol producers. They certainly need the help after the experience of the last three years. But, it remains a commodity business.
Why do you think they were able to buy 7% for $4.5 million? How much of a discount below its market value do you think they could possibly have gotten? Even 50% discount doesn't help much to justify the share price.
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