Teamsters Raise Concerns With Investors Regarding Conflicting Interests in Waste Mergers
04 Agosto 2008 - 6:34PM
PR Newswire (US)
Union Seeks Assurances That Conflicts of Interest Won't Curtail
Growth Opportunities and Shareholder Value WASHINGTON, Aug. 4
/PRNewswire-USNewswire/ -- The International Brotherhood of
Teamsters sent letters today to significant institutional investors
in the three largest U.S. solid waste companies -- Waste
Management, Inc. (NYSE:WMI), Allied Waste Industries Inc.
(NYSE:AW), and Republic Services Inc. (NYSE:RSG) -- to seek
assurances that processes are in place to ensure that fiduciary
obligations are met as the firms face competing financial
interests. A proposed stock transaction by Republic Services Inc.
to merge with Allied Waste Industries Inc. and a cash offer by
Waste Management, Inc. to purchase Republic Services Inc. raise
questions as to how diversified investors with significant stakes
in each of the companies will manage potential conflicts of
interest and meet their fiduciary duty to act in the interests of
their clients, which include many Teamster-affiliated pension and
benefit funds. The Teamsters represents more than 32,000 employees
throughout the private sector solid waste industry, including
18,700 at Waste Management, Inc., Allied Waste Industries Inc., and
Republic Services Inc. Founded in 1903, the International
Brotherhood of Teamsters represents more than 1.4 million
hard-working men and women in the United States, Canada and Puerto
Rico. DATASOURCE: International Brotherhood of Teamsters CONTACT:
Galen Munroe of Teamsters, +1-202-624-6911 Web Site:
http://www.teamster.org/
Copyright
Allied Waste (NYSE:AW)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Allied Waste (NYSE:AW)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Allied Waste Inds da New York Stock Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Allied Waste Industries, Inc.