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Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: glen who wrote (1058)	12/4/1997 7:01:00 PM
From: Mr. Miller	Read Replies (1) \| Respond to of 8359

I called John, and I left a message with his secretary about the reuters mistake. In the Winston-Salem(NC) Journal there was an article about the deal: Written by Eleni Chamis(Journal Business Reporter) on December 4, 1997 I won't write it all since most is redundant, but will type pertinents "Seed Company agrees to buyout" "Agribiotech will pay $17 million in cash and 2 million shares of its common stock. The stock closed up 1/2 yesterday to 10 11/16, making the shares worth about $21.4 million...The deal is expected to close January 5...Budd Seed, a wholesale distributor of grass seed and fertilizer, was formed in Winston-Salem in 1985 after the Budd family acquired Weaver Seed Co., said Richard P. Budd, the CEO of Lofts. Budd Seed bought Lofts Seed in June 1996 and moved its headquarters from Somerset, NJ, to Winston-Salem. It acquired Sunbelt Seed Inc. of Norcross, GA, in June 1997...Lofts sells to golf courses, retail stores and landscapers...(stuff about performance and revenues)...On the turf side, Francis said that the company is working on research that would allow such things as grass that can be mowed only once a month or even every three months. ABTX employs about 400 people and distributes products in 48 states and 52 foreign countries. Lofts has distribution and packaging operations in eight states. The corporate headquarters for Lofts and Budd Seed are in Winston-Salem. Sunbelt is based in Norcross, GA. They are expected to stay in place. Lofts has 25 patented varieties of seed, which are cultivated at research farms in Albany, Ore...In a move unrelated to the buyout, the companies will become one under the Lofts Seed Inc. name Dec. 31, primarily because it is more widely recognized by consumers, Budd said." I do not know what this last line means- I assume the three companies involved-budd, lofts, sunbelt Miller