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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 28, 1998
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REPUBLIC SERVICES, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-14267 65-0716904
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(Commission (IRS Employer
File Number) Identification No.)
110 S.E. 6th Street
Ft. Lauderdale, FL 33301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (954) 769-6000
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N.A.
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
On September 28, 1998 Republic Services, Inc. (the "Company") issued a press
release to announce that the Company had entered into a definitive agreement
with Waste Management, Inc. ("Waste Management") to acquire substantially all of
the assets Waste Management is required to divest as part of the USA Waste-Waste
Management merger plus certain additional properties and assets. The transaction
is subject to various state and federal agency approvals.
The description contained herein of the proposed acquisition of certain assets
of Waste Management is qualified in its entirety by reference to the Press
Release dated September 28, 1998, attached hereto as Exhibit 99, which is
incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
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99 Press Release of the Company dated
September 28, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REPUBLIC SERVICES, INC.
By: /s/ David A. Barclay
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David A. Barclay
Senior Vice President
and General Counsel
Date: October 1, 1998
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EXHIBIT 99
Republic Services to Buy Assets from Waste Management, Inc.
FORT LAUDERDALE, Fla., Sept. 28 /PRNewswire/ -- Republic Services, Inc.
(NYSE: RSG) today announced that it has signed a definitive agreement to acquire
from Waste Management, Inc. substantially all of the assets Waste Management is
required to divest as part of the USA Waste-Waste Management merger plus
additional properties and assets (NYSE: WMI) for approximately $500 million cash
and certain properties. The purchase is expected to add $160 million of annual
revenue to Republic Services and be accretive to earnings.
The transaction is expected to close before the end of the year,
subject to approvals from various state and federal agencies and other customary
closing conditions.
The assets to be acquired include 16 landfills, 11 transfer stations
and 136 commercial collection routes across the United States as well as
disposal agreements at various Waste Management facilities.
Republic expands its presence in four existing markets and enters 16
new markets with the purchase of these assets. The acquisition includes fully
integrated collection and disposal operations in nine markets including Houston,
Texas; Denver, Colorado; Louisville, Kentucky; Portland, Oregon; Pittsburgh,
Pennsylvania and Detroit, Michigan, as well as the cities of Akron, Cleveland
and Columbus in Ohio.
Whit Hudson, Vice Chairman of Republic Services said, "Acquiring these
assets from Waste Management is a major step forward for Republic Services. It
increases our number of fully integrated operations and provides significant
disposal capacity for our existing collections operations in the Los Angeles,
Eastern Pennsylvania and New Jersey markets. Our entry into new markets provides
an excellent platform from which to grow."
Republic Services, Inc. is one of the largest providers of
non-hazardous solid waste collection and disposal services in the United States.
Its operating units provide solid waste collection services for commercial,
industrial, municipal and residential customers in 28 states.
Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance, or achievements expressed or implied in such
forward looking statements. Additional discussion of factors that could cause
actual results to differ materially from management's projections, forecasts,
estimates and expectations is contained in the Company's SEC filings.
SOURCE: Republic Services, Inc. 9/28/98
