Stanhill Withdraws $30M Evergreen Coal Tech Offer

Law360, New York (November 23, 2011, 12:57 PM EST) -- Merchant banker Stanhill Capital Partners has unexpectedly withdrawn its $30 million bid to purchase Evergreen Energy Inc.'s K-Fuel coal-refining technology, the environmental solutions company said Wednesday.

Evergreen said Stanhill, a major stakeholder in the company, withdrew its offer Tuesday and terminated any further discussions on the matter, and that the company's special committee set up to examine the offer, advised by Cooley LLP, is considering other options.

“There can be no assurance that any of these parties will make an offer to acquire the K-Fuel business...
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