Third Point's stake in BioFuel Energy up to 29.6%

By Lisa Kerner

Charlotte, N.C., June 25 - BioFuel Energy Corp. investors led by Third Point LLC reported beneficial ownership of 4,328,800 shares, or 29.6%, of the company's company stock.

The investors acquired the stock as an investment, according to a schedule 13D filing with the Securities and Exchange Commission. However, depending market and other conditions, the investors may discuss potential changes to BioFuel Energy with third parties or company management.

On June 19, Third Point purchased 347,000 shares of BioFuel Energy stock priced at $10.50 per share.

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