Waste Management sweetens buyout bid

Waste Management Inc., the nation's largest trash hauler, has boosted its unsolicited buyout offer for rival Republic Services Inc. by about 9 percent to $37 per share, or $6.73 billion.

The sweetened offer announced on Monday escalates the battle among the nation's largest waste haulers. Republic Services rejected Waste Management's earlier offer of $34 per share, or $6.19 billion, in July, saying the proposed buyout undervalued the company.

The Oak Brook firm's attempt to acquire its No. 3 rival is widely seen as an effort to break up Republic's agreement to buy another trash hauler, Allied Waste Industries Inc.