Biotech Firms Merge: Calgene Inc. and Plant...

Biotech Firms Merge: Calgene Inc. and Plant Genetics Inc., both based in Davis, Calif., announced a definitive agreement calling for Plant Genetics’ acquisition by Calgene in a stock-swap deal. The firms together had 1988 revenues of $32.4 million and spent $12.8 million in development of agricultural seed and plants. Calgene’s specialty is molecular biology and plant biochemistry; Plant Genetics has produced new types of alfalfa and potato seed.