It’s a sad time for the recycling business if Biffa’s forthcoming share float is to now be discounted from 270p to 220p.
Once “Rubbish is Rubbished” - what help do other businesses have? 
Biff has been in trouble for years at one point a couple of years back it was for sale for £1 but the debts were massive.
The repriced float is more to do with Brexit than Biffa, they have grown and profited consistently over the last five years resulting in several acquisitions over the past two years so they are far from doom and gloom.
It is probably more to do with timing than anything else.