Date: August 11, 2008
Source: News Room
Bill Gates' investment arm Cascade Investment LLC has made a number of purchases of Republic Services, Inc. stock in recent days. According to filings with the Securities and Exchange Commission, his stake currently amounts to 30.7 million shares which is close to about 17% of the company. Late last month, Republic's board of directors adopted poison pill measures aimed to thwart Waste Management's unsolicited offer for the company. The measures penalize purchasers of more than 10% of company stock without board approval, but provide an exception for Cascade Investment which already owned 15% is allowed to accumulate up to 20%.
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