Monday, January 24, 2011

Talkin' Trash and makin' Cash: Casella Wast Systems (CWST)

From Waste Age:
Casella Waste Agrees To Sell Certain Recycling Assets for $130.4 Million
Rutland, Vt.-based Casella Waste Systems has reached an agreement to sell some recycling assets to a new company formed by Pegasus Capital Advisors LP and Intersection LLC for $130.4 million.

The assets include 17 material recovery facilities, a transfer station and “certain related intellectual property assets,” according to a press release issued by Casella Waste. The release doesn’t identify the exact location of the properties but does say the assets are located outside of Casella’s “core operating region of New York, Massachusetts, Vermont, New Hampshire, Maine and northern Pennsylvania.”...MORE
The stock was up 20.45% today, on almost six times normal volume.