Fort Lauderdale, Fla.-based Republic Services has made an all-stock buyout offer for Phoenix-based, Allied Waste. The offer would give Allied Waste shareholders 0.45 shares Republic common stock for each share of Allied Waste stock. The buyout would combine the second- and third-largest firms in the waste industry.
“There can be no assurances that any transaction will occur at these terms or at any terms as a result of these discussions,” according to a statement by both companies. “In order to protect the interests of their employees, shareholders and customers, the two companies will not comment further on these discussions until and unless there are material developments.”