Peter Anderson
Allied to acquire BFI
SCOTTSDALE, ARIZ. (March 8) -- Third-ranked Allied Waste
Industries
Inc. is buying Browning-Ferris Industries Inc., the country´s
second-largest
trash hauler, for $45 per share. The long-rumored deal is
valued at $9.1 billion.
Both sides expect to close the sale during the third quarter
of the year. The
combined company, which intends to move forward using the
Allied name, will
have about $6.6 billion in annual revenues. Allied anticipates
wringing out $290
million in cost savings and synergies in the first year after
the sale is completed.
The company also expects to reap another $900 million or more
from the sale
of what it terms nonstrategic businesses and from the
completion of required
divestitures.
____________________________________
Peter Anderson
RecycleWorlds Consulting
4513 Vernon Blvd. Ste. 15
Madison, WI 53705-4964
Phone:(608) 231-1100/Fax: (608) 233-0011
E-mail:recycle@msn.fullfeed.com