WASTE MANAGEMENT EXTENDS STOCK REPURCHASE PROGRAM
WASTE MANAGEMENT EXTENDS STOCK REPURCHASE PROGRAM OAK BROOK, Ill., Sept. 18 /PRNewswire/ -- Waste Management, Inc.
(NYSE: WMX), announced today that it has extended its program to repurchase up to 25,000,000 shares of its common stock in the open market or in privately negotiated transactions for an additional 24 months.
In September 1990, Waste Management originally announced this stock repurchase plan, which was due to expire on Sept. 18, 1992. The company currently has approximately 490,000,000 shares of common stock outstanding, net of treasury shares. Dean L. Buntrock, chairman and chief executive officer, stated, "Our repurchase program has enabled the company, from time to time during the past two years, to make attractive investments in our stock. This extension will provide the company with the ability to make similar investments as such opportunities present themselves." Common stock repurchased under the program will be held in the company treasury and will be available for use in connection with business acquisitions by the company, in connection with the company's employee benefit programs or for other general corporate purposes. Waste Management, Inc., is the world's leading environmental services company. Based in Oak Brook, the company operates through subsidiaries and affiliates throughout the United States, Canada and 20 countries overseas. -0- 9/18/92 /CONTACT: William J. Plunkett, 708-572-8898, or James E. Koenig (analysts), 708-572-8822, both for Waste Management/ (WMX) CO: Waste Management, Inc. ST: Illinois IN: SU:
GK -- NY050 -- 1163 09/18/92 13:31 EDT
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|Date:||Sep 18, 1992|
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