|VeraSun Energy Corp to Merge with US BioEnergy Corp|
|Thursday, 29 November 2007|
VeraSun Energy Corp to Merge with US BioEnergy Corp
(NAMC) - Energy merges with energy as VeraSun Energy Corp. (NYSE: VSE) and US BioEnergy Corp. (NASDAQ: USBE) unveil that both companies have entered into a definitive merger agreement. The merger which was unanimously approved by the board of directors of both companies is expected to close at some point during the first quarter of 2008 following shareholder approval.
The broadstrokes of the deal entail the issuance of 0.81 share of VeraSun common stock for each outstanding share of US BioEnergy common stock, representing a premium of approximately 11% based on November 23, 2007, closing prices.
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