Date: January 4, 2007
Source: Allied Waste Industries
Allied Waste Industries (NYSE: AW) amended a shareholder agreement, enabling two investors to increase the pool of potential buyers for their shares, the waste management company said in a regulatory filing on Wednesday.
The amendments allow shareholders Apollo Advisors II LP and Blackstone Capital Partners II Merchant Bank Fund LP to sell shares of Allied Waste's common stock to third parties who own no more than 15 percent of outstanding shares after the sale, compared with a previous 9 percent cap.
Apollo holds 8.9 percent of Allied Waste's outstanding shares, down from the 17.9 percent it held before it sold 33 million shares in November. Blackstone owns 13.1 percent, according to the proxy statement Allied Waste filed with the Securities and Exchange Commission in April.
As a result of Apollo's November sale, one of the Allied Waste's directors designated by Apollo and Blackstone resigned, according to the terms of the shareholder agreement.
The amendments also terminated prior agreements applying to stockholders other than the Apollo and Blackstone investors, the Phoenix, Arizona-based company said in the filing.
For more information, visit: www.alliedwaste.com.
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