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Allied Waste Industries, Inc. (15880 N. Greenway Hayden Loop, Suite 100, Scottsdale, AZ 85260; Tel: 602/423-2946), the third largest U.S. waste-disposal company, will buy Browning-Ferris Industries, Inc. (757 N. Eldridge, Houston, TX 77079; Tel: 281/870-8100), the second-largest, for $9.1 billion in cash and assumed debt.
Allied Waste will pay $45 for each Browning-Ferris share. Allied also will assume $1.8 billion in debt. Allied's biggest shareholders, the Blackstone Group and Apollo Management LP, will help finance the buyout. The combined company, with annual revenue of $6.6 billion, will still rank a distant second to Waste Management, Inc. (1001 Fannin St., No. …