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Waste Management Bids on Republic Services

July 19, 2008 Official Board Markets


Waste Management, Houston, the leading waste services company in the U.S., has made an offer to buy Republic Services for $6.19 billion in an attempt to prevent Republic's planned agreement with Allied Waste.

Waste Management proposed to acquire all outstanding shares of Republic Services for $34 per share, a premium of 22 percent on the share's closing price July 11. Republic Services announced on June 23 the acquisition of Allied Waste Industries, the third-largest U.S. waste management firm, in a deal valued at approximately $6.07 billion. Under the terms of that planned merger, Allied Waste shareholders would own 52 percent of the combined company.

 
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