Business news digest

NATION

Waste Management pulls back bid for Republic

HARTFORD, Conn. — Waste Management Inc., the nation’s largest garbage hauler, on Monday withdrew its $6.73 billion bid to acquire smaller rival Republic Services, saying the move wouldn’t be prudent given current financial market turmoil.

The announcement ends a 3-month takeover struggle that began in July when Houston-based Waste Management first offered to buy rival Republic Services Inc., the nation’s No. 3 trash hauler, and continued when Waste Management sweetened its takeover bid in August.

Honda to change plants in Alabama and Ohio

DETROIT — Honda Motor Co. says it will convert one of the two assembly lines at its Lincoln, Ala., factory so it can make V-6-powered Honda Accords by the middle of next year. The plant now makes the Odyssey minivan and Pilot sport utility vehicle.

Company spokesman Ed Miller says Honda will cut 8,000 vehicles from production at the Lincoln plant in November because sales have softened.

The conversion to Accords in Alabama frees more space for Honda’s plant in Marysville, Ohio, to build more fuel-efficient four-cylinder Accords. The company also says it will increase production of four-cylinder engines at its factory in Anna, Ohio.

Associated Press