The nation’s third largest ethanol producer confirmed that it has received a buyout offer.

Several major ethanol producers are having trouble staying afloat with the volatility of the corn market, decreasing cost of conventional gasoline and the weakening world economy and credit crunch.

VeraSun Energy Corp., which filed for bankruptcy on Oct. 31, released a statement late Monday night that it has received a “non-binding unsolicited indication of interest with respect to the purchase of substantially all its assets.”

The statement comes after a Sioux Falls, S.D. television station reported earlier in the day that the nation’s largest maker of the renewable alternative fuel, POET, is considering buying other ethanol companies.

VeraSun did not confirm who the interested party was or what it was offering, but said in the statement that the offer is being considered.

“[VeraSun] intends to pursue this indication of interest to its conclusion and evaluate other proposals it may receive in accordance with its obligations as a debtor in possession under Chapter 11 of the Bankruptcy Code,” the statement reads.