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US BioEnergy was among VeraSun’s 24 subsidiaries that also filexd forbankruptcy Friday. Sioux Falls, S.D.-basef VeraSun (NYSE: VSE) countas Wells Fargo Bank and Cargill Inc.’s AgHorizons business among itslargesft creditors. The firm owes San Francisco-based Wells Fargo more than $447 and AgHorizons about $13 million, according to bankruptcty filings. Verasun in an all-stock deal worth an estimatexd $686.2 million at the time. Verasun’s stocmk was trading at over $10 but it’s been in declined most of thepast year. On it was trading at about 23 down 25 centsfrom Friday.
Increasinhg corn costs and the troubled capita l markets contributed tothe company’s decisiom to file for bankruptcy protection, VeraSuj said in a statement. The move comes more than a montbh after the company to craft a plan forits future.
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