BLUE GASS BREEDERS <BLGR> COMPLETES ACQUISITION Blue Grass Breeders Inc said it has completed the acquisition of Equine Enterprises Inc for four mln common shares. It said it is obligated to deliver another 2,741,660 shares on the attainment of a certain level of shareholders' equity during any fiscal quarter within 12 months of closing. If all the contingent shares are issued, Blue Grass said former owners of Equine will have a 75 pct interest in Blue Grass. Equine is a New Mexico quarter horse breeding and racing company.