|
|
Article: Waste Management, Inc. Proposes to Acquire Public Shares Of Wheelabrator Technologies Inc.
- Article from:
- PR Newswire
- Article date:
- June 20, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
OAK BROOK, Ill., June 20 /PRNewswire/ -- Waste Management, Inc. (NYSE: WMX) today announced that its board of directors has approved a cash offer to acquire all of the outstanding publicly held shares of Wheelabrator Technologies Inc. (NYSE: WTI) for $15.00 per share.
The consideration represents an approximately 15 percent premium to the closing price of $13.00 of Wheelabrator common stock on the New York Stock Exchange on June 19, 1997. Waste Management owns approximately 67 percent of Wheelabrator's 157 million shares.
"We have long stated that Wheelabrator's waste-to-energy operations are a core business whose facilities are an integral part ...