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World Biofuels
Symposium
November 13-15, 2005
Beijing, China
2nd Annual Canadian Renewable Fuels Summit
December 13-15, 2005
Toronto, Ontario, Canada
Hosted by:
Candadian Renewable Fuels
Association
National Biodiesel
Conference & Expo 2006
February 5-8, 2006
San Diego, California
Organizer:
National Biodiesel Board
11th Annual
National Ethanol Conference: "Policy & Marketing"
February 20-22, 2006
Las Vegas, Nevada, USA
Sponsored by:
Renewable Fuels Association
22nd
Annual International Fuel Ethanol Workshop & Expo
June 20-23, 2006
Milwaukee, Wisconsin, USA
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Posted on
September 6, 2002Archer Daniels Wins Vote on Bid for Rival By BLOOMBERG NEWS
ORTON, Minn. — The $394.4 million bid by Archer Daniels Midland for Minnesota Corn Processors, its biggest rival in the United States ethanol market, was approved today by the farmers who own Minnesota Corn.
About 81 percent of the 5,000 farmers who own stakes voted to accept Archer Daniels's offer for the 70 percent of Minnesota Corn that it does not already own, Minnesota Corn's chief executive, Dan Thompson, said. Archer Daniels is the largest ethanol producer in the country.
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The transaction will increase the company's share of the nation's $2.48 billion ethanol market to 46 percent from 40 percent. Archer Daniels and its rivals, including Cargill Inc. and Bunge Ltd., have been buying smaller competitors that were hurt by a slump in grain prices that began in 1998 and lasted until a drought this summer devastated crops.
Ethanol is a fuel additive distilled from corn and other starchy grains. It is added to gasoline to reduce tailpipe emissions.
Mr. Thompson and an Archer Daniels spokesman, Larry Cunningham, said in separate interviews that they expected the Justice Department to approve the deal in a matter of days.
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