RALEIGH, N.C., April 18 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services
company, announced today that it has notified Nasdaq of its intent to
delist its common stock from the Nasdaq Global Market. Waste Industries
currently anticipates that it will file with the Securities and Exchange
Commission and Nasdaq a Form 25 relating to the delisting of its common
stock on or about April 29, 2008, with the delisting of its common stock
becoming effective ten days thereafter. Accordingly, Waste Industries
anticipates that the last day of trading of its common stock on the Nasdaq
Global Market will be on or about May 9, 2008. The delisting will follow
the closing of the previously announced proposed going private transaction.
The proposed going private transaction would be pursuant to a definitive
merger agreement with an investor group led by Lonnie C. Poole, Jr., the
Company's founder and Chairman, and Jim W. Perry, the Company's President
and Chief Executive Officer, and financial partners Macquarie
Infrastructure Partners and Goldman Sachs, pursuant to which the investor
group will acquire all outstanding shares of Waste Industries that the
investor group does not already own for $38.00 per share in cash. The total
equity value of the transaction, including the investment to be made by the
investor group, is valued at approximately $544 million.
Waste Industries USA, Inc. is a vertically integrated solid waste
services company that provides collection, transfer, disposal and recycling
services to commercial, industrial and residential customer locations in
the states of North Carolina, South Carolina, Virginia, Tennessee,
Mississippi and Georgia.
This press release contains forward-looking statements under the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because the statement will
include words such as the Company "believes," "anticipates," "expects" or
words of similar import. Similarly, statements that describe the Company's
future performance plans, objectives or goals are also forward-looking
statements. Forward- looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
those currently anticipated. With regard to the proposed going private
transaction, factors that could cause the merger not to occur or could
cause results to otherwise differ from the results expressed or implied by
any forward-looking statements regarding the merger include, but are not
limited to: the occurrence of any event, change or other circumstances that
could give rise to the termination of the merger agreement or the failure
of required conditions to close the merger; the outcome of any legal
proceedings that have been or may be instituted against us and others as a
result of the proposed merger; the inability to obtain shareholder approval
or the failure to satisfy other conditions to completion of the merger,
including the receipt of certain regulatory approvals; the failure to
obtain any contemplated debt or equity financing; risks that the proposed
transaction disrupts current plans and operations and the potential
difficulties in employee retention as a result of the merger; and the
potential impact of current unsettled conditions in the credit markets.
Consider these factors carefully in evaluating the forward-looking
statements. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-looking
statements is contained from time to time in the Company's SEC filings.
SOURCE Waste Industries USA, Inc.
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Related links:
http://www.waste-ind.com
http://www.prnewswire.com/comp/120685.html /
CONTACT:
Carol Dalton of Waste Industries USA, Inc.,
+1-919-325-3000
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