IESI-BFC To Pick Up Waste Services For $370M

Law360, New York (November 11, 2009, 4:03 PM EST) -- IESI-BFC Ltd. plans to take over Canadian rival Waste Services Inc. for about $370 million in an all-stock transaction to form the third-biggest solid-waste management firm in North America, the companies announced Wednesday.

The combination is expected to bring in $1.5 billion in annual revenues, and the deal will help IESI-BFC grow its presence in the Canadian market and set up shop in Florida, they said.

Under the agreement, Waste Services shareholders will accept 0.5833 of a share of IESI-BFC for each share they hold, and...
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