Bill Gates ups ownership of Republic Services to 17.99%

By Lisa Kerner

Charlotte, N.C., Aug. 18 - Bill Gates' Cascade Investment, LLC bought approximately 4.2 million shares of Republic Services, Inc. between Aug. 5 and Aug. 12 for a total of $145.14 million using working capital.

Cascade beneficially owns 32,745,240 shares, or 17.99%, of the Fort Lauderdale, Fla., solid waste collection company, according to a schedule 13D filed with the Securities and Exchange Commission.

Republic Services' board rejected Waste Management, Inc.'s revised offer to acquire the company for $37 per share in favor of its planned merger with Phoenix-based hazardous solid waste services company Allied Waste Industries, Inc., it was previously reported.

Waste Management, a Houston integrated waste services provider, originally offered $34 per share for Republic in July. Bill and Melinda Gates were opposed to the offer, a prior SEC filing noted.

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