{"id":8601,"date":"2008-09-15T00:00:00","date_gmt":"2008-09-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-rebukes-republic-services","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/hedge-fund-rebukes-republic-services.html","title":{"rendered":"Hedge Fund Rebukes Republic Services"},"content":{"rendered":"<p class=\"times\">Wall Street Journal &#8211; Hedge fund Elliott Associates LP made public a letter to <span class=\"times rolloverQuote\">Republic Services<\/span> Inc. in which it said the company&#8217;s board wasn&#8217;t doing its duty by fully considering the raised $6.73 billion takeover bid from <span class=\"times rolloverQuote\">Waste Management<\/span> Inc.<\/p>\n<p class=\"times\">The fund, which said it is a &quot;meaningful&quot; shareholder in the company, asserted the Waste Management bid was more favorable to shareholders than Republic&#8217;s proposed acquisition of <span class=\"times rolloverQuote\">Allied Waste Industries<\/span> Inc., initially valued at $6.24 billion in stock.<\/p>\n<p class=\"times\">The size of Elliott&#8217;s stake couldn&#8217;t be determined, and an official wasn&#8217;t available for comment.<\/p>\n<p class=\"times\">The hedge fund urged Republic&#8217;s board, in a letter dated Aug. 28 and released Friday, to &quot;vigorously negotiate the best possible deal from Waste Management,&quot; maintaining the Waste Management proposal of $37 a share &quot;can reasonably be expected to lead to an offer that is superior to Republic&#8217;s no-premium merger with Allied.&quot;<\/p>\n<p class=\"times\"><a href=\"http:\/\/online.wsj.com\/article\/SB122142944453233807.html\" target=\"_blank\"><strong \/><\/a><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/online.wsj.com\/article\/SB122144355971534859.html%3Fmod%3Dgooglenews_wsj\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street Journal &#8211; Hedge fund Elliott Associates LP made public a letter to Republic Services Inc. in which it said the company&#8217;s board wasn&#8217;t doing its duty by fully considering the raised $6.73 billion takeover bid from Waste Management [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[140,552,249,156,218,2437,595,242,147,353,1804],"class_list":["post-8601","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-alan-greenspan","tag-alignment","tag-asset-management","tag-brian-l-roberts","tag-citigroup","tag-convertible-bonds","tag-handsome-returns","tag-img-src","tag-journalism","tag-stocks","tag-westwood"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8601"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8601\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}