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First signs of consolidation in ethanol industry

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SIOUX FALLS, S.D. (AP) - The first salvo may have been fired this week in a long-awaited shakeout for the U.S. ethanol industry.

VeraSun Energy Corp., the nation's No. 2 ethanol producer, announced it had received an unsolicited takeover bid one month after seeking bankruptcy protection, and just hours after the nation's biggest producer, Poet LLC, said it was talking with other companies about buyouts.

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