Proxy advisory firms back merger of Republic Services, Allied Waste

By Lisa Kerner

Charlotte, N.C., Nov. 4 - Three independent proxy advisory firms support the merger of Republic Services, Inc. and Allied Waste Industries, Inc., it was announced on Tuesday.

Glass, Lewis & Co., RiskMetrics Group/ISS and Proxy Governance, Inc. have all recommended that stockholders vote for the proposals with respect to the merger of the two companies, a Republic Services news release said.

Republic Services will hold its shareholder meeting to vote on the proposed merger at 1:30 p.m. ET on Nov. 14 in Florida.

In June, the boards of directors of both companies unanimously approved the merger, which is slated to close in the fourth quarter of 2008.

It was previously reported that under the merger agreement, Allied Waste shareholders will receive 0.45 shares of Republic Services common stock for each share of Allied Waste common stock.

Republic Services is a Fort Lauderdale, Fla., solid waste collection company.

Allied Waste is a Phoenix-based non-hazardous solid waste services company.

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