Progressive Waste is in the non-hazardous waste management industry. It’s one of the largest vertically integrated non-hazardous waste management companies.
Two companies bidding against each other in a merger deal can easily lead from a 1% gross spread to a 10% gross spread for merger arbitrage professionals.
Blue Harbour started a new position in Clean Harbors (CLH) in 4Q14, buying 1,434,552 shares worth $68 million. It accounts for 2.21% of the fund’s total portfolio.