July 15, 2008

Waste Management Makes $6.9 Billion Offer to Rival

Waste Management, the nation's largest garbage hauler, on Monday made an unsolicited offer to buy disposal company Republic Services Inc. for $6.19 billion in cash, aiming to squash a possible combination of two U.S. rivals. The deal represented a counter offer to the proposed combination of Republic Services and Allied Waste Industries announced in late June. No. 2 Republic Services offered to buy No. 3 Allied Waste Industries in a $6.07 billion stock deal. Republic said its board of directors will review the $34 per share offer from Waste Management and respond "in due course."

Originally published by Staff and wire reports.

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