Waste Management Climbs on REIT Conversion Speculation
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Waste Management Inc. rose the most in seven weeks after analysts at Credit Suisse Group AG said investors would benefit if the biggest U.S. trash hauler was converted into a real estate investment trust.
Waste Management increased 2.2 percent to $36.46 at the close in New York, the biggest gain for the Houston-based company since Dec. 5. Republic Services Inc., a Phoenix-based competitor, climbed 2.2 percent to $31.78.