You mean this?:Soros Funds Sold 4 Million AgriBioTech Shares Since September
1/29/99 20:45
Soros Funds Sold 4 Million AgriBioTech Shares Since September
Las Vegas, Jan. 29 (Bloomberg) -- Soros Fund Management LLC,
run by billionaire investor George Soros, sold almost 4 million
shares of AgriBioTech Inc. since Aug. 31, as the turf and forage
seed company was seeking a buyer for between $25 and $50 a share.
The shares were sold for less than $18.
The shares were sold on behalf of Quantum Partners LDC,
which owned 4.6 million shares, or 11.5 percent, on Aug. 31. The
partnership, whose shareholders include Soros' flagship Quantum
Fund, a $9 billion hedge fund, cut its stake to 614,900 shares,
or 1.5 percent, as of today, according to a filing with the
Securities and Exchange Commission.
Last week, AgriBioTech abandoned the sales effort after an
auction conducted by Merrill Lynch & Co., the world's largest
broker, produced no bids, according to people familiar with the
process.
The Las Vegas-based company's shares traded as high as 17
7/8 during the period in which Soros sold. Today, they fell 7/16
to 8 1/8, just above their 52-week low of 7 5/8.
Late this afternoon, AgriBioTech filed a registration
statement that will allow Soros to sell 270,000 of its remaining
shares.
Johnny Thomas, AgriBioTech's chief executive, wasn't
immediately available for comment.
--David Evans in Los Angeles (310) 827-2348 through the New York
newsroom/wm
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