Replies to post #24153 on Alto Ingredients Inc (ALTO)

[kel3]

It's Different then I though BIOF Up 25% A/H

The Proposal by Green Light Capital is for BIOF to Buy Out JBGL,not to get Bought Out.

BioFuel Energy Corp. (BIOF) -NasdaqCM
3.14 Up 0.18(6.08%) Mar 28, 3:59PM EDT
After Hours : 4.31 Up 1.17 (37.26%) Mar 28, 7:59PM EDT

BioFuel Energy Receives Proposal For A Possible Transaction

DENVER, March 28, 2014 /PRNewswire/ -- BIOFUEL ENERGY CORP. (BIOF) (the "Company") announced today that it has received a preliminary non-binding proposal (the "Proposal") from Greenlight Capital, Inc. (together with its affiliates, "Greenlight") and James R. Brickman ("Brickman" and, together with certain trusts and family members of Brickman, the "Brickman Parties") for a possible transaction pursuant to which one or more newly-formed, wholly owned subsidiaries of the Company would acquire all of the equity interests of JBGL Capital, LP and JBGL Builder Finance, LLC, and their direct and indirect subsidiaries (collectively, "JBGL"). JBGL is a series of real estate entities involved in the purchase and development of land for residential purposes, construction lending and home building operations. JBGL is currently owned and controlled by Greenlight and Brickman.

In response to the Proposal, the board of directors of the Company (the "Board") will establish a special committee consisting of independent directors to evaluate the Proposal and alternatives for the Company. The special committee will be authorized to retain independent financial, legal and other advisors.

There can be no assurance that the Proposal or any other transaction will be approved or completed. No further public disclosure regarding the Proposal is expected to be made until the special committee has completed its deliberations and provided the Board with its recommendation in respect of the Proposal.