Pivot Ends Plan to Acquire Agro-Biotech
As quoted in the press release:
“Despite our extensive efforts, we have been unable to complete the acquisition of Agro-Biotech in accordance with the terms and conditions initially agreed upon by the parties. While we are extremely disappointed with this outcome, Pivot continues to pursue other value-enhancing opportunities for the Company and its shareholders,” said Patrick Frankham, CEO of Pivot.
Pivot is currently reviewing the legal alternatives available to it to obtain recovery from Agro-Biotech of the amounts expended by it in the pursuit of this transaction, as well as further damages resulting from the non-completion of the transaction.