BFI ANNOUNCES PUBLIC OFFERING OF COMMON STOCK
BFI ANNOUNCES PUBLIC OFFERING OF COMMON STOCK HOUSTON, June 10 /PRNewswire/ -- Browning-Ferris Industries, Inc.
(NYSE: BFI) announced today the public offering of 14 million shares of common stock at $21.00 per share in simultaneous United States and international offerings. The offering has been increased from the 12 million shares that was included in the original filing with the Securities and Exchange Commission. "We are pleased by the reception our offering has had," William D. Ruckelshaus, chairman and CEO of BFI, said.
The First Boston Corporation, Goldman, Sachs & Co., Lehman Brothers and Smith Barney, Harris Upham & Co. Incorporated are the managers of the U.S. syndicate offering of 11.6 million shares, and Credit Suisse First Boston Limited, Goldman Sachs International Limited, Lehman Brothers International and Smith Barney, Harris Upham & Co. Incorporated are the lead managers of the international offering of 2.4 million shares. The company has granted the underwriters and managers an option to purchase up to an additional 2.1 million shares to cover over- allotments, if any. Net proceeds to the company from the sale of shares will be used for general corporate purposes, including capital expenditures to fund future growth. Browning-Ferris Industries, Inc. is one of the largest publicly-held companies engaged in providing waste services. Subsidiaries and affiliates collect, transport, treat and dispose of commercial, residential and municipal solid waste and industrial wastes. BFI subsidiaries are also involved in recycling, resource recovery facilities, medical waste services, portable restroom services, and municipal and commercial sweeping operations. -0- 6/10/92 /CONTACT: Sandra D. Glatzau or Fletcher Thorne-Thomsen, Jr., Browning-Ferris Industries, Inc., 713-870-8100/ (BFI) CO: Browning-Ferris Industries, Inc. ST: Texas IN: SU: OFR
TQ -- NY027 -- 8734 06/10/92 10:25 EDT
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|Date:||Jun 10, 1992|
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