Shares of Verenium Corporation VRNM are soaring after the BP Plc BP announced the purchase of VRNM’s biofuels business.
VRNM’s shares jumped up 74.39% to settle around $4.29 at 9:42 am EDT. BP has areed to purchase the biofuels business in California from VRNM for $98.3 million. The company has also promoted Janet Roemer to the post of President and Chief Operating Officer.
Verenium’s shares have risen 11.31% over the past week, while they have lost 45.33% so far this year.
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Posted In: NewsM&AIntraday UpdateMarketsMoversEnergyIntegrated Oil & GasJanet RoemerOil & Gas Refining & Marketing
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