Waste Management Inc: Key Developments
Waste Management, Inc. Announces Pricing Of $600 Million Senior Notes
November 12, 2009 |
| Waste Management, Inc. announced that it has priced an underwritten public offering of $600 million aggregate principal amount of 6.125% senior notes due November 30, 2039 under a shelf registration statement previously filed with the Securities and Exchange Commission. The notes will be fully and unconditionally guaranteed by the Company's wholly-owned subsidiary, Waste Management Holdings, Inc. The notes are expected to be assigned ratings of BBB by both Standard & Poor's and Fitch and Baa3 by Moody's. The offering is expected to close on November 17, 2009. The Company plans to use a portion of the net proceeds to fund certain equity investments and acquisitions and all remaining proceeds will be used for general corporate purposes, including additions to working capital, capital expenditures and the funding of other potential acquisitions and investments in businesses. BNP Paribas Securities Corp., J.P. Morgan Securities Inc., Scotia Capital (USA) Inc., and Wells Fargo Securities, LLC. acted as joint book-running and joint lead managers of the offering. In addition, Calyon Securities (USA) Inc., Citigroup Global Markets Inc., Comerica Securities, Inc., Daiwa Securities America Inc., Goldman Sachs & Co., Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities, Inc., Morgan Keegan & Company, Inc., SunTrust Capital Markets, Inc., and U.S. Bancorp Investments, Inc. acted as co-managers of the offering. |
Waste Management, Inc. Announces Cash Dividend
November 10, 2009 |
| Waste Management, Inc. announced the declaration of a quarterly cash dividend of $0.29 per share payable December 18, 2009 to stockholders of record on December 2, 2009. |
Waste Management, Inc. Reiterates FY 2009 EPS Outlook
October 29, 2009 |
| Waste Management, Inc. reiterated its fiscal 2009 outlook and expects earnings per share (EPS) in the range of $1.95-$1.99. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.95 for the same period. |
Waste Management, Inc. Subsidiary Acquires Medical Waste Collection, Transportation And Processing Company
October 27, 2009 |
| WM Healthcare Solutions, Inc., a subsidiary of Waste Management, Inc. announced that it has acquired Mountain High Medical Disposal Services, Inc., a medical waste collection, transportation and processing company. The purchase will better serve the needs of Waste Management's healthcare customers in the Salt Lake City area and Idaho. Terms of the transaction were not mentioned. |
Waste Management, Inc. Comments On Q3, Q4 2009 Earnings Guidance-Conference Call
September 9, 2009 |
| Waste Management, Inc. announced that for fourth quarter of 2009, it expects earnings to either be flat or maybe even modestly positive. Earlier the Company was expecting a negative $0.02 to $0.04 for the second half of 2009 and that will really all be in third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.54 for third quarter of 2009 and EPS of $0.47 for fourth quarter of 2009. |
Waste Management, Inc and Terrabon Announce Investment Agreement For Waste-To-Fuel Conversion Technology
August 26, 2009 |
| Waste Management, Inc. and Terrabon, L.L.C., announced an agreement by Waste Management to invest in Terrabon's waste-to-fuel conversion technology. Waste Management joined Valero Energy Corporation and also invested in Terrabon in April 2009 and recently increased its investment in Terrabon. This investment from Waste Management and Valero will be used by Terrabon to advance the scalability of their technology. Waste Management will also assist Terrabon in securing organic waste streams, which Terrabon will use to produce high-octane gasoline using its MixAlco technology. |
Waste Management, Inc. Announces Cash Dividend
August 25, 2009 |
| Waste Management, Inc. announced the declaration of a quarterly cash dividend of $0.29 per share payable September 25, 2009 to stockholders of record on September 8, 2009. |
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