Republic Services and Allied Waste merge

The completion of the $6 billion merger between two of the USA's waste management giants has been announced. The country's second and third largest waste management service providers, Republic Services Inc. and Allied Waste Industries, Inc, have joined forces and will be named Republic Services, Inc.The company which has over 35,000 employees will operate from Phoenix and serve over 13 million customers in 40 states and Puerto Rico. It is estimated that the pro forma annual revenue of the company will be $9 billion.Allied shareholders will receive 0.45 shares of Republic common stock for each share of Allied common stock held. James E O'Connor is Chairman and Chief Executive Officer of the combined company, while Don Slager has become President and Chief Operating Officer.'Today marks an exciting new beginning for Republic Services and the entire environmental services industry,' said Jim O'Connor. 'We are looking forward to combining the best practices, complementary assets and experienced executives from two great companies to enhance our leadership position. This is an outstanding opportunity for us to better serve our customers, provide enhanced opportunities to our employees and create shareholder value.'Don Slager says, 'We have the strategy, people and resources in place to rapidly realize the value of the transaction for customers, shareholders and employees. Our integration teams have worked very hard to prepare for this day, and we have thorough plans in place to ensure our customers and employees experience a seamless transition.'