AgriBioTech Inc. Exploring Strategic Alternatives to Maximize Shareholder Value.LAS VEGAS--(BUSINESS WIRE)--Oct. 8, 1998--Dr. Johnny R. Thomas, chairman and chief executive officer, AgriBioTech Inc. ("ABT ABT About ABT Abteilung (German: Department) ABT Abbott Laboratories (stock symbol) ABT American Ballet Theatre ABT Associação Brasileira de Telemarketing ABT Abort ABT Availability Based Tariff ") (Nasdaq NM:ABTX) Thursday announced that ABT has retained Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. as its investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. , primarily to explore alternatives to maximize shareholder value. In light of the dramatic and recent acceleration in consolidation of the seed industry, the ABT board of directors has determined that this is the appropriate time to evaluate strategic alternatives. AgriBioTech is a fully integrated full service seed company specializing in the forage forage Vegetable food, including corn and hay, of wild or domestic animals. Harvested, processed, and stored forage is called silage. Forage should be harvested in early maturity to avoid a decrease in protein and fibre content as crops mature. 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. The company has completed 33 acquisitions since Jan. 1, 1995 and is the largest forage and cool-season turfgrass seed company in the world, with a current level of annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $460 million. The statements discussed in this news release include forward-looking statements that involve a number of risks and uncertainties. These include the company's historical lack of profitability, need to manage its growth, intense competition in the seed industry, seasonality of quarterly results, weather conditions, volatile stock price and other risks detailed from time to time in the company's Securities and Exchange Commission reports. |
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