REPUBLIC SERVICES, INC. acquires Allied Waste Industries, Inc.

REPUBLIC SERVICES, INC. acquired Allied Waste Industries, Inc. for All-stock merger of equals; enterprise value of over $20 billion, creating a company with approximately $9 billion in pro forma annual revenue, a transaction completed in December 2008, structured as all stock. The deal was a merger of equals.

Allied Waste Industries, Inc. operates in Solid waste collection, transfer, recycling and landfill disposal, is based in United States (national footprint). Allied Waste Industries was the third-largest non-hazardous solid waste management company in the United States. The merger combined the industry's second-largest (Republic) and third-largest (Allied) companies into a national environmental services platform serving more than 13 million customers in 40 states and Puerto Rico with more than 35,000 employees. Each share of Allied common stock was converted into 0.45 shares of Republic common stock. The combined company retained the Republic Services name and ticker (NYSE: RSG) and relocated its corporate headquarters to Phoenix.

The merger was expected to generate approximately $150 million in net annual synergies, be accretive to Republic's earnings per share in the first year following completion, and create a powerful cash flow generator producing strong and predictable cash flows from operations in excess of $1.7 billion annually.

Allied brought a broad national footprint, an innovative procurement platform, and complementary service areas and assets to Republic's high-growth Sunbelt presence, established franchise business and strong capital structure. Approximately $150 million in expected net annual synergies (later described as more than $150 million in pre-tax annual synergies by 2011) Combined company operated under the Republic Services name, headquartered in Phoenix