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BGI Statement on Proposal by Waste Management, Inc. to Acquire Republic Services, Inc.

Publication: PR Newswire
Publication Date: 18-JUL-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SEATTLE, July 18 /PRNewswire/ -- BGI, the investment office that manages the assets of Cascade Investment, L.L.C. and Bill & Melinda Gates Foundation Trust, owning in the aggregate approximately 15.6% of Republic Services, Inc. ("Republic") and 2.3% of Waste Management, Inc. ("Waste"), today announced that it would not support the recent proposal made by Waste to acquire Republic. BGI's reasons include:

-- At $34 per share, BGI believes Waste's unsolicited cash offer significantly undervalues the business of Republic. Republic's shares traded above the...

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