Subscribe to our free daily newsletters
. Earth Science News .

Subscribe to our free daily newsletters

Waste Management Offers To Buy Republic For Six Billion Dollars

by Staff Writers
New York (AFP) July 14, 2008
Waste Management, the US waste services leader, said Monday it had offered to buy rival Republic Services for 6.19 billion dollars, a bid aimed at thwarting Republic's planned tie-up with Allied Waste.

Waste Management proposed to acquire all outstanding shares of Republic Services for 34 dollars per share, a premium of 22 percent on the share's closing price Friday.

The announcement of the unsolicited buyout offer drove Republic Services shares up 14.55 percent to 31.96 dollars around 1405 GMT in New York trade, while Waste Management was off 6.88 percent at 34.67 dollars.

Republic Services announced on June 23 the acquisition of Allied Waste Industries, the third-largest US waste management firm, in a cash swap valued at approximately 6.07 billion dollars.

Under the terms of that planned merger, Allied Waste shareholders would own 52 percent of the combined company.

"Our 34 dollars per share all-cash proposal clearly offers a better and more certain value alternative to Republic stockholders than the recently announced Republic-Allied Waste Industries, Inc. transaction," Waste Management chief executive David Steiner said in a statement.

Republic Services was not immediately available to comment on the counteroffer from Waste Management.

According to Houston, Texas-based Waste Management, the acquisition would boost earnings in the first year and provide synergies of at least 150 million dollars a year.

Email This Article
Comment On This Article

Share This Article With Planet Earth DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook

Related Links
Our Polluted World and Cleaning It Up

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Soot From Ships Worse Than Expected
Washington DC (SPX) Jul 14, 2008
Large cargo ships emit more than twice as much soot as previously estimated, and tugboats puff out more soot for the amount of fuel used than other commercial vessels, according to the first extensive study of commercial vessel emissions.

  • Asia sets stage for disaster relief exercise with key powers
  • Exercise For Rapid Disaster Relief Using Space-Based Technologies
  • Disaster deaths worse so far in 2008 than tsunami year: Munich Re
  • Immune Buildings Designed To Combat Chemical Warfare And Diseases

  • In Namibian desert, the heat is on to address climate change
  • Greenland Ice Cores Shows Drastic Climate Change Near End Of Ice Age
  • Schwarzenegger slams Bush administration on global warming
  • Bush administration puts off greenhouse gas regulation

  • India And France Joint Working Group Meet To Discuss Space
  • Raytheon Submits Proposal For NOAA Environmental Satellite Ground Segment
  • NASA Mission To Be Crystal Ball Into Future Of Oceans And Past Seas
  • ESA Satellite Assesses Damage Of Norway's Largest Fire

  • Russian Pipeline Monopoly Denies Czech Oil Cut Political
  • Iowa State Researchers Study Ground Cover To Reduce Impact Of Biomass Harvest
  • GE Unit Surpasses Four Billion Dollar Renewable Energy Mark
  • Ormat Technologies Secures Contract For Geothermal Power Plant In Turkey

  • Discovery Of Key Malaria Proteins Could Mean Sticky End For Parasite
  • Pandemic Mutations In Bird Flu Revealed
  • Researchers Identify Potential Drug Candidates To Combat Bird Flu
  • Anti-retroviral drug cocktails slash AIDS deaths: study

  • Flatfish Fossils Fill In Evolutionary Missing Link
  • Big Brains Arose Twice In Higher Primates
  • Canada rejects Brussels ban on its seal skins
  • US DoE Joint Genome Institute Announces New Genome Sequencing Projects

  • Waste Management Offers To Buy Republic For Six Billion Dollars
  • Soot From Ships Worse Than Expected
  • Improving Swine Waste Fertilizer
  • Pesticides Persist In Ground Water

  • Will Our Future Brains Be Smaller
  • Do We Think That Machines Can Think
  • A Microsatellite-Guided Insight Into The Genetic Status Of The Adi Tribe
  • New Map IDs The Core Of The Human Brain

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement