Miller Diversified Corp., a commercial cattle feeder andagricultural finance services company, said it has acquiredGenetic Engineering Inc.
Genetic Engineering of Denver specializes in bovine genetics,technology aimed at improving the quality of cattlereproduction. Under the deal, it will become a wholly ownedsubsidiary of the La Salle, Colo., company in a swap of commonstock and warrants.
The price will be determined by the value of the stock whenthe deal is approved by regulatory authorities. Miller shares(NASDAQ:MILR) closed unchanged at 47 cents on Wednesday.Genetic Engineering trades as "GEENE" on the OTC BulletinBoard.
Norman Dean, Miller chairman, said the $1.3 million of assetsacquired in the deal included $1 million in real estate. Miller'sfinancial base would enable it to develop Genetic Engineering'stechnology, he said.
(c) 1997 American Health Consultants. All rights reserved.