Source: LOHAS Weekly Newsletter
Published: Sunday, November 01, 1998

American Home Products Corp. (AHP) and Monsanto Co. called off their $33.6 billion merger, reportedly after top executives disagreed on who would run the pharmaceutical and biotechnology company. Also, Organic Food Products Inc. (OFPI) called off its acquisition of Spectrum Naturals Inc. to concentrate on its core business and the integration of a previous acquisition, Sunny Farms. Meanwhile, Safeway Inc., the nation’s buying Dominick’s Supermarkets Inc. of Chicago for $1.2 billion in cash. Safeway now has annual sales of more than $26.5 billion. Also, the Kroger Co. (KR) is buying Fred Meyer (FMY) in a $13 billion deal that will create the nation’s number-one supermarket chain. AMBI Inc. (AMBI) has allied with AHP for retail distribution of AMBI’s nutrition products. AMBI received $5 million in cash from AHP, consisting of a $1 million upfront fee payment and a $4 million payment for 3.5 million newly issued shares of AMBI common stock. Too, Natrol Inc. (NTOL) completed its acquisition of the Laci Le Beau Corp. of Fresno, CA., which had FY98 (ended June 30) sales of $7.2 million.