Judge approves joint bid for Indiana’s New Energy ethanol plant

In Indiana, a judge has approved the sale of South Bend’s New Energy ethanol plant to Maynards and BidItUp whose joint bid at auction last week of $2.5 million led to an objection by another bidder. The two decided to team up on the bid in the middle of the auction rather than getting prior approval for a joint bid, but the judge ruled the move was transparent.