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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: F. Lynn who wrote (3955)	10/10/1998 2:13:00 PM
From: InvestorLady	Respond to of 18998

From the Mycogen (has announced will be 100% owned by DOW Chemical)/ABTX press release; LAS VEGAS--(BUSINESS WIRE)--Sept. 21, 1998--Dr. Johnny R. Thomas, chairman and chief executive officer, AgriBioTech Inc. Nasdaq/NM:ABTX), Monday announced that AgriBioTech and Mycogen Nasdaq/NM:MYCO) have signed a letter of intent to jointly develop insect-resistant alfalfa varieties. .....AgriBioTech and Mycogen have also agreed to priority negotiations on insect-resistant turfgrasses utilizing Bt technology. .....AgriBioTech will be responsible for all transformation, regeneration, selection conversion and breeding activities. AgriBioTech will utilize its germplasm for all breeding activities and will be primarily responsible for marketing the insect resistant varieties. Mycogen will also market product through its distribution channels. According to Dr. Tom Rice, vice president and director of research for AgriBioTech, "Insect resistance is a priority target based upon the value it will bring to our customers. AgriBioTech is pleased to combine its emerging biotechnology capability, its leading germplasm position and its industry-leading market share with Mycogen's exceptional Bt technical capabilities and intellectual property." AgriBioTech is a fully integrated full-service seed company specializing in the forage and turfgrass seed sector, complete with research and development of proprietary seed varieties, seed processing plants, and a national and international distribution and sales network. agribiotech.com One of the companies ABTX owns is LOFTS, which was named the supplier of choice to Home Depot recently for grass seed: turf.com to learn some about LOFTS products I short too, but wouldn't short abtx here. Better ones out there. Did nicely on SRCM...:-) Watch XIRC...could run up again and doubt it will make a new high, watch the technical divergences for the shorting entry position. Good luck, LADY