Green Plains (GPRE) plans to bring its Green Plains Partners (GPP) subsidiary back in-house under a revised plan that will see Green Plains buy all public GPP units for 4.7M shares of stock and $23M in cash, Truist tells investors in a research note. The firm, which made no change to its Buy rating or $45 price target on Green Plains, continues to see the transaction as the right move for the company long-term, though notes that shares may underperform on the incremental share/cash component of the revised deal.
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