Allied Waste strikes deal to buy Browning-Ferris
Article Abstract:
Allied Waste Industries Inc. has reached an agreement to acquire Browning-Ferris Industries Inc. for approximately $7.3 billion. This comes out to a price of $45 per share. The deal combines the second- and third-ranking waste-hauling firms in the US. Under the deal, Allied will take on debts worth approximately $1.8 billion that belonged to Browning-Ferris. The merged entity is expected to reduce operating expenses by about $360 million.
Comment:
Allied to acquire Browning-Ferris Industries for approximately $7.3 billion
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Waste Management cuts estimates for earnings
Article Abstract:
Waste Management Inc. withdrew its earnings forecasts, fired its chief financial officer, and announced that it is planning a major asset sale in order to restore investor credibility. The company now predicts it will post between 58 cents and 60 cents per share. Analysts predicted 67 cents to 70 cents per share in earnings. Waste Management cautioned that it would not reach its expected 78 cents per share.
Comment:
Withdraws initial earnings forecast; predicts it will post between 58 cents and 60 cents per share
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Yellow Corp. chief is picked to lead U.S. waste hauler
Article Abstract:
A. Maurice Myers has been named as the new chairman, chief executive officer, and president of Waste Management Inc. The 59-year old Myers served in the same positions for Yellow Corp.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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