Waste Management to buy East Coast handler

Article Abstract:

Waste Management Inc. plans to purchase Eastern Environmental Services Inc. for stock valued at about $1.27 billion. Under the terms of the transactions, Eastern shareholders would receive 0.6406 share of Waste Management stock for each Eastern share. Through this acquisition, Waste Management would acquire Eastern's dump in Waverly, VA which has enough capacity to store all of the trash generated in the United States for about one year. Waste Management's purchase, one which signals further consolidation of the trash-handling industry, would also reduce the number of major independent companies bidding on New York City waste disposal contracts.

Comment:

Waste Management plans to purchase Eastern Environmental for stock valued at about $1.27 bil

Refuse Systems, Waste Collection, Waste management industry, Waste Management Inc. (Houston, Texas), Eastern Environmental Services Inc.

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Unicom to sell coal-fired power plants to raise cash for its nuclear networks

Article Abstract:

Unicom Corp. plans to sell its network of coal-fired power plants in order to raise funds for its nuclear power plants and electricity distribution system. The owner of the largest nuclear power network, Unicom has been unable to manage its operations efficiently, almost having to implement organized blackouts in the Chicago area. This, and its inability to inform city officials about planned blackouts has led to discussions between city officials and company officials. The coal-fired power plants, valued at $1.1 billion on the company books, are expected to sell for around $2 and 3 billion.

Comment:

Selling coal-fired energy plant to invest in its nuclear-power plants and electricity-distribution system

Netherlands, Wired Telecommunications Carriers, Intnl Telephone Service, Unicom Corp., International telephone services

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In strategic retreat, Sears to sell chain to Advance Auto

Article Abstract:

Sears, Roebuck & Co. is planning to sell its Parts America chain and other auto-parts operations to Advance Auto Parts for about $175 million and a 40% stake in the company. Advance, which operates some 915 stores in 17 states, will attain the 590 units of Parts America. Sears plans to keep its 784 Sears Auto Centers and its 346 NTM National Tire & Battery stores. The department store also stated that it plans to take an after-tax charge of $200 million to $250 million in the third quarter of 1998 after the sale of its Parts America and other auto-parts operations.

Comment:

Sears plans to sell its Parts America chain and other auto-parts operations to Advance Auto Parts

Tire, Battery & Accesory Stores, Automotive Parts and Accessories Stores, Sears, Roebuck and Co., Automotive parts stores, Advance Stores Company Inc.

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