IESI-BFC to buy Waste Services (Dealscape

Canada's IESI-BFC Ltd. agreed Wednesday to buy smaller rival Waste Services Inc. for about $750 million in stock and assumed debt to create North America's third-largest solid-waste management company.

The companies said in a statement that Toronto-based IESI-BFC will pay 0.5833 of a common share, which values the target's stock at about $7.82, based on Tuesday's closing price and current exchange rates. The price represents a premium of 8% to Waste Management's closing price Tuesday of $7.24, though that understates the shareholders' rewards as the shares have risen almost 40% in the past month.

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NOT A SUBSCRIBER? IESI-BFC to buy Waste Services Posted on November 11, 2009 1:00 PM Canada's IESI-BFC Ltd. agreed Wednesday to buy smaller rival Waste Services Inc. for about $750 million in stock and assumed debt to create North America's third-largest solid-waste management company. The companies said in a statement that Toronto-based IESI-BFC will pay 0.5833 of a common share, which values the target's stock at about $7.82, based on Tuesday's closing price and current exchange rates. The price represents a premium of 8% to Waste Management's closing price Tuesday of $7.24, though that understates the shareholders' rewards as the shares have risen almost 40% in the past month. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 506 in-depth reports of M&A deals in the Services sector 55 company pages related to Waste 39 articles relatd to Waste Services Inc. 13 articles related to IESI 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Moelis & Co. Evercore Partners Cedar Fair Skadden Arps Apollo Management Six Flags Varde partners Biogen Idec Lyondell Chemical		EXISTING USERS Username Password Forget your password? Missing a product?

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