RALEIGH, N.C., May 8 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services
company, announced today that its shareholders have approved the previously
announced going private transaction at a special meeting held today. The
investor group behind the transaction is 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 includes financial partners Macquarie
Infrastructure Partners and Goldman Sachs. Under the terms of the approved
merger agreement, Waste Industries shareholders will receive $38.00 per
share in cash.
The transaction is scheduled to be effective on Friday, May 9. In
connection with the transaction, Waste Industries shares will be de-listed
from the Nasdaq stock exchange prior to the opening of trading on May 9.
About Waste Industries USA, Inc.
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, Georgia
and Mississippi.
Forward Looking Statements
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 "expects," "believes," "anticipates" or
words of similar import. Similarly, statements that describe the Company's
future plans, objectives or goals are also forward-looking statements. The
forward-looking statements are subject to risks and uncertainties,
including the possibility that the proposed transaction could be withdrawn,
rejected, or unable to be consummated because of various contingencies,
including, but not limited to, the outcome of any legal proceedings that
may be instituted against the Company and/or others relating to the
proposed transaction, the effect of the announcement on the Company's
operating results and business generally, the risk that the proposed
transaction disrupts current plans and operations, the inability to satisfy
any material conditions to consummation of the proposed transaction,
downturns in the Company's business or the state of the corporate credit
markets, and the impact of the substantial indebtedness expected to be
incurred to accomplish the proposed transaction. Consider these factors
carefully in evaluating the forward-looking statements. The risk factors
listed in the Company's Form 10-K for the year ended December 31, 2007 and
subsequently filed Forms 8-K also provide examples of risks, uncertainties
and events that could cause actual results to differ materially from those
contained in forward-looking statements. The forward-looking statements
made herein are only made as of the date of this press release and the
Company undertakes no obligation to publicly update such forward-looking
statements and is not responsible for changes made to this press release
for Internet or wire services.
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, Investor Relations of Waste
Industries USA, Inc., +1-919-325-3000
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