Shareholders approve Allied-Republic Merger

Nov 17, 2008 10:30 AM

Shareholders for both Phoenix-based Allied Waste and Republic Services, Fort Lauderdale, Fla., have voted to approve the pending merger, which is scheduled to be completed in the fourth quarter pending final approval from the U.S. Department of Justice.

According to a report by the Associated Press, 95 percent of shareholders vote in favor of the merger. The deal, originally valued at $6.07 billion when it was announced in June, is now valued at $5 billion because of a steep decline in share values.

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