Brief: Merger search fails, stock falls
Monday, Jan. 25, 1999 | 10:43 a.m.
A three-month search for a buyer led by Merrill Lynch & Co. ended in failure. The stock was off 2 7/8 to 9 3/16 in trading this morning.
AgriBioTech had been counting on an equity infusion to help pay off debt, complete pending acquisitions and fund future growth.
Separately, AgriBioTech said it bought the outstanding shares of HybriGene LLC, a biotechnology company with genetic engineering patents for crops and species.
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