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October 24, 2014

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County commission delays action on garbage fees

Clark County commissioners today delayed for a second time taking action on garbage fees proposed by Republic Services.

Commissioner Chris Giunchigliani objected to postponing the discussion and said she does not want county staff to negotiate with Republic.

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Republic Services claimed it didn't need county commissioners' approval to start charging valley residents more for garbage collection.

Republic proposed increasing residential garbage bills by 6.47 percent. Republic took in nearly $274 million in revenue last year from Southern Nevada.

Rival Waste Management launched an unsolicited surprise counter offer to buy Republic Services on Monday for about $6.19 billion. Republic has an exclusive contract to collect residential and business trash in Clark County through 2035 after county commissioners extended its contract in 1999.

Waste Management's bid of $34 per share represents a 22 percent premium to Republic's recent stock closing price, but that stock had been off 17 percent since rumors surfaced of Republic's deal to buy Allied Waste Industries, Inc.

Republic's $6.77 billion deal to buy Allied Waste had a "definite merger" agreement, the company said in a statement, but said it would carefully review Waste Management's proposal.

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