Date: October 14, 2008
Source: News Room
Shareholders for both Allied Waste Industries Inc. and Republic Services Inc. will meet on November 14 to approve merger plans and Republic's offering price of 0.45 shares for each share of Allied. A possible impediment to the deal was eliminated this week by Waste Management's formal withdrawal of its offer to buy Republic instead. Upon approval of the deal as it now stands, Allied Waste shareholders will own 51.7% while Republic shareholders will own 48.3% of the combined company which is to be called Republic Services. Republic expects to issue approximately 196.2 million shares of stock to complete the deal. The company will reserve another 14.1 million shares to cover stock options and convertible debentures according to a filing with the Securities and Exchange Commission.
To learn more, visit: www.republicallied.com.
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