WASHINGTON (dpa-AFX) - Waste Management Inc. (WM) said it has been notified of an unsolicited 'mini-tender offer' by TRC Capital Corporation to purchase up to 3 million shares, or approximately 0.65 percent, of outstanding Waste Management common stock at $33.00 per share. TRC Capital's offer price is 4.62 percent below Waste Management's closing share price on Aug. 20, 2012, the day prior to the offer.
The company recommends that stockholders who have not responded to the TRC Capital offer take no action. The company also recommends that stockholders who have already tendered shares in TRC Capital's offer withdraw their shares by providing the written notice described in the TRC Capital offering documents prior to the expiration of the offer, currently scheduled for 12:01 a.m. Eastern time on Thursday, September 20, 2012.
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