Date: November 16, 2009
Source: News Room
The billionaires are circling the waste industry. This week, Warren Buffet's Berkshire Hathaway Inc. purchased 3.625 million shares of Republic Services according to filings with the SEC. He joins Bill Gates whose Cascade Investment LLC owns a sizable 15% stake. Similarly, the Bill and Melinda Gates Foundation, the world's largest private philanthropic fund, doubled its holding in Houston, Texas-based Waste Management Inc. to 15.7 million shares, from a previous 7.8 million.
Republic Services indicated it had no knowledge of Buffet´s purchase of shares until Berkshire Hathaway revealed its third quarter investments through a filing with the SEC on Nov. 16. Buffet´s purchase represents about 1% of all outstanding shares of Republic Services, which was built to prominence by billionaire H. Wayne Huizenga.
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