OTHER NEWS - Sept. 21, 1994
From Times Staff and Wire Reports
Browning-Ferris Seeks to Pick Up Rival: The $573.5-million takeover bid by waste management firm Browning-Ferris Industries Inc. of Houston is the largest in the waste industry in a decade. Struggling British waste group Attwoods slammed the hostile bid as “opportunistic.” Announcement of the offer was swiftly followed by word that Attwoods’ largest shareholder, Canada’s Laidlaw Inc., accepted Browning’s bid of $208 million for its holding of Attwoods ordinary and preferred shares. Laidlaw owns more than 30% of Attwoods’ total capital. Industry analysts said the takeover bid represents a consolidation wave at a time when the industry is crawling out of the financial dumps.
