Waste Management Won't Acquire Republic

Summary


HARTFORD, Conn. -- Waste Management Inc., the nation's largest garbage hauler, on Monday withdrew its $6.73 billion bid to acquire smaller rival Republic Services, saying the move wouldn't be prudent, given current financial-market turmoil.

The announcement ends a three-month takeover struggle that began in July, when Houston-based Waste Management first offered to buy rival Republic Services Inc., the nation's No. 3 trash hauler, and continued when Waste Management sweetened its takeover bid in August.

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Waste Management Won't Acquire Republic

The moves were seen as a...

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