Republic Services and Allied Waste Announce Merger Integration Team
23 Julio 2008 - 4:00PM
Business Wire
Republic Services, Inc. (NYSE: RSG) and Allied Waste Industries,
Inc. (NYSE: AW) today announced that Michael Cordesman, Republic�s
President and Chief Operating Officer, and Christopher Melocik,
Allied�s Senior Vice President of Operations Effectiveness, will
lead the integration planning process associated with the
companies� merger agreement announced on June 23, 2008. The
integration team -- which also comprises approximately 10
functional experts from each company, as well as Republic Chairman
and Chief Executive Officer James O�Connor, Allied Waste President
and Chief Operating Officer Don Slager, Republic Chief Financial
Officer Tod Holmes and Allied Waste Executive Vice President and
Chief Personnel Officer Ed Evans -- will select the people, systems
and business processes from both organizations to fully capture the
$150 million of announced net annual operating synergies and ensure
that the company is in the strongest position for ongoing success.
Republic Services and Allied Waste also announced today that they
have retained Deloitte Consulting LLP to advise the companies on
merger integration planning. Deloitte is one of the country�s
leading merger integration consulting firms, having advised on
hundreds of transactions in the recent years. Representatives from
Deloitte will work closely with the integration team. �Our
leadership teams are committed to an effective and efficient
integration of our operations and our people, and we are excited to
have already made important progress in the integration process,�
said Mr. O�Connor. �The integration team is already developing the
critical action plans and processes that will begin upon completion
of the merger. We look forward to working with Deloitte�s experts,
who will advise our integration team on creating a plan that
effectively integrates the companies and enables us to realize the
significant benefits of this combination.� �Mike and Chris will
focus on the critical corporate, financial, operational and
employee integration points that can drive the future success of
the merged company,� said Mr. Slager. �We have already formed
functional teams that have begun the vital work of planning for a
seamless integration. We intend to hit the ground running on day
one � ensuring that we create a rewarding and safe workplace for
our employees, provide uninterrupted superior service to customers
while continuing to generate value for our shareholders.� As
previously announced on June 23, 2008, the companies� boards of
directors unanimously approved a definitive merger agreement that
firmly establishes one of the nation�s leading waste and
environmental services providers, with expected pro forma annual
revenues of approximately $9 billion and an expected total market
capitalization of approximately $12 billion. The combined company
will have more than 35,000 employees serving more than 13 million
customers in 40 states and Puerto Rico. The companies expect to
achieve approximately $150 million in net pretax annual synergies
by the third year following the completion of the transaction,
primarily from achieving greater operating efficiencies, capturing
inherent economies of scale and leveraging corporate and overhead
resources. The transaction is expected to close by the fourth
quarter of 2008, and to be accretive to Republic�s earnings per
share and cash flow per share in the first year following
completion of the merger. The companies will continue to post
updates at www.RepublicAllied.com. About Republic Services, Inc.
Republic Services, Inc. is a leading provider of environmental
services including solid waste collection, transfer and disposal
services in the United States. The company�s operating units are
focused on providing solid waste services for commercial,
industrial, municipal and residential customers. About Allied Waste
Industries, Inc. Allied Waste is America�s second largest
non-hazardous solid waste services company and an environmental
leader. Headquartered in Phoenix, AZ, Allied Waste provides waste
collection, transfer, recycling and disposal services to millions
of residential, commercial and industrial customers in over 100
major markets spanning 38 states and Puerto Rico. Allied�s team of
more than 22,000 dedicated employees operates within a highly
efficient, integrated organization that generated 2007 revenue of
$6.1 billion. Additional Information and Where to Find It This
communication is being made in respect of the proposed business
combination involving Republic and Allied. In connection with the
proposed transaction, Republic plans to file with the SEC a
Registration Statement on Form S-4 containing a Joint Proxy
Statement/Prospectus and each of Republic and Allied plan to file
with the SEC other documents regarding the proposed transaction.
The definitive Joint Proxy Statement/Prospectus will be mailed to
stockholders of Republic and Allied. INVESTORS AND SECURITY HOLDERS
OF REPUBLIC AND ALLIED ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors and security holders will be able to obtain free copies
of the Registration Statement and the definitive Joint Proxy
Statement/Prospectus (when available) and other documents filed
with the SEC by Republic and Allied through the website maintained
by the SEC at www.sec.gov. Free copies of the Registration
Statement and the definitive Joint Proxy Statement/Prospectus (when
available) and other documents filed with the SEC can also be
obtained by directing a request to Republic Services, Inc., 110 SE
6th Street, 28th Floor, Fort Lauderdale, Florida, 33301 Attention:
Investor Relations or by directing a request to Allied Waste
Industries, Inc., 18500 North Allied Way, Phoenix, Arizona 85054,
Attention: Investor Relations. Participants in Solicitation
Republic, Allied and their respective directors and executive
officers and other persons may be deemed to be participants in the
solicitation of proxies in respect of the proposed transaction.
Information regarding Republic�s directors and executive officers
is available in its Annual Report on Form 10-K for the year ended
December 31, 2007, which was filed with the SEC on February 21,
2008, and its proxy statement for its 2008 annual meeting of
stockholders, which was filed with the SEC on April 2, 2008, and
information regarding Allied�s directors and executive officers is
available in Allied�s Annual Report on Form 10-K, for the year
ended December 31, 2007, which was filed with the SEC on February
21, 2008 and its proxy statement for its 2008 annual meeting of
stockholders, which was filed with the SEC on April 10, 2008. Other
information regarding the participants in the proxy solicitation
and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained in the definitive
Joint Proxy Statement/Prospectus and other relevant materials to be
filed with the SEC when they become available. Information
Regarding Forward-Looking Statements Certain statements and
information included herein constitute �forward-looking statements�
within the meaning of the Federal Private Securities Litigation
Reform Act of 1995. These forward-looking statements are identified
by words such as �will,� �expects,� �intends,� �anticipates,� and
similar words. Any such forward-looking statements contained herein
are based on current expectations, but are subject to a number of
risks, uncertainties, and other factors that may cause actual
results to differ materially from expectations expressed in such
forward-looking statements, many of which are beyond the control of
Republic or Allied. Such risks, uncertainties and other factors
include: regulatory and litigation matters and risks, legislative
developments, changes in tax and other laws, the effect of changes
in general economic conditions, the risk that a condition to
closing of the transaction may not be satisfied, the risk that a
regulatory approval that may be required for the transaction is not
obtained or is obtained subject to conditions that are not
anticipated and other risks to consummation of the transaction,
risks that the combined company may not achieve anticipated
synergies, risks that the acquisition may not be accretive to
earnings in the anticipated time frame, or at all, risks that the
combined company may not generate expected cash flows, risks that
the anticipated financing may not be secured, as well as risks
relating to the business and operations of both Republic and Allied
included in their respective filings with the Securities and
Exchange Commission. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating
our forward-looking statements and are cautioned not to place undue
reliance on forward-looking statements. The forward-looking
statements made herein are only made as of the date of this press
release and the parties hereto undertake no obligation to publicly
update these forward-looking statements to reflect subsequent
events or circumstances.
Allied Waste (NYSE:AW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Allied Waste (NYSE:AW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024