Business Services Industry
Waste-USA merger fallout. (Waste Management Inc.; USA Waste Services Inc.)
Crain's Chicago Business, March, 1998 by Crown, Judith
Even with huge cuts, company faces a long haul Waste Management Inc.'s shareholders let out whoops of joy at news that the ailing giant will be acquired by Houston-based upstart USA Waste Services Inc. "We're thrilled," billionaire financier George Soros told Waste Management CEO Robert S. Miller, who called on his largest stockholder Wednesday to outline the $20-billion stock-swap deal.
Investors should be excited. The merger represents the best, perhaps only, prospect for Waste's management, Mr. Soros and other shareholders to recoup their investments in the beleaguered waste hauler, which has faltered during the past two years. It also will bring in a lean and aggressive management team that will cut jobs, slice overhead and tighten operations - moves that...
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