Waste Management Bids on Republic Services

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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