Waste Management to Move on Florida Purchases

Lynn Schenkman

Houston -- Antitrust officials at the Justice Department will allow Waste Management Inc. to buy $75 million to $80 million in stocks and assets of Scottsdale, Ariz.-based Allied Waste Industries in Broward and Palm Beach counties, Fla., according to news sources. In exchange for making a purchase that exceeds $50 million, Waste Management must sell other assets in one of the counties. According to the Department of Justice, such a purchase could decrease competition and cause smaller container commercial haulers to raise prices. Waste Management will be required to notify the Justice Department if in the next four years the company decides to purchase small container commercial hauling assets.