Bloomberg is REALLY losing it. Talk about lost, biased journalism. Now they are seriously mis-stating the facts. This is the worst yet.
<AgriPro has about 18 percent of the proprietary alfalfa- seed market. AgriBioTech has about 7 percent, according to estimates from industry experts and the companies. Research Seeds Inc. of St. Joseph, Missouri, has about 35 percent of the market and Pioneer Hi-Bred has about 20 percent.>
ABTX was buying 3 companies with a combined $35 million in alfalfa, AgriPro had TOTAL sales of all seed varieties including corn, etc. of $60 million. 18% of $250 million is $45 million which is the amount Blooperberg says AgriPro has in proprietary alfalfa seed. Simple math shows this to be impossible.
Next, Doomberg states ABTX has only 7% of proprietary alfalfa-seed according to *experts*..who? Name them. ABTX has not released any numbers and they bought all privately held companies so there is no number crunching available. Bloomberg doesn't name the source, the information is garbage.
Next, they say Pioneer Hi-Bred has 20% of proprietary alfala seed. In Pioneers filing they stated $60 million total in alfalfa sales. That means they would have to have $50 million in proprietary seeds. Oh?
And finally, in speaking with Francis today, the deal is NOT dead. ABTX has not put out a press release to that affect. ABTX has never had to unwind a deal because they go to far-reaching, thorough measures to understand a biz before they buy it. That part is done with Helena, now they need to negotiate the final numbers. Helena may just be playing hardball.
The editors of Bloomberg say they only print the facts. This shows they don't. In many ways, these two reporters are way out of control.
They never report good news, their headlines are shock-laden inflamatory and the substance is slanted and highly suspect to motive.
Anyone who is upset by this continual need to slam ABTX and now to distort severely the facts, I invite to contact Bloomberg editors direct and let them know how you feel.
Could someone please post the contact information for email and phone with the name of the editor for Ms. Clark and Mr. Evans (my information was lost in a puter mishap). I also suggest you give the name of the senior management to contact as well, who is over that said editor. I have spoken with the editor several months ago and he needs *supervising*. You employers out there know what I mean.
Lady |
