Waste Management may raise bid for Republic: report

Mon Aug 11, 2008 4:41am EDT

(Reuters) - Waste Management Inc, the No.1 U.S. trash hauler, was expected to raise its unsolicited cash bid for rival Republic Services Inc by nearly 10 percent to $6.73 billion, the Wall Street Journal said on Monday, citing people familiar with the matter.

Waste Management was expected to deliver a letter to Republic as soon as Monday, offering to pay $37 a share, up from its original $34 a share bid, the Journal said, citing the people familiar with the matter.

Last month, trash hauler Republic Services and its biggest shareholder rejected a $34 per share, or $6.2 billion, takeover offer from Waste Management.

(Reporting by Tenzin Pema in Bangalore; Editing by Louise Ireland)