RALEIGH, N.C., May 9 /PRNewswire/ -- Waste Industries USA, Inc., a
regional, non-hazardous solid waste services company, announced today that
it has completed the previously announced going private transaction
effective May 9, 2008. The transaction received shareholder approval at a
special meeting of the shareholders held on May 8. 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. Waste Industries shares
were de-listed from the Nasdaq stock exchange at the opening of trading
today, May 9, and have ceased to trade as a listed company.
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 effect of the transaction on the Company's operating results
and business generally, the risk that the transaction disrupts current
plans and operations, downturns in the Company's business, and the impact
of the substantial indebtedness incurred to accomplish the 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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