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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):
February 24, 1998 (February 23, 1998)
Laidlaw Environmental Services, Inc.
(Exact name of Company as specified in its charter)
Delaware 1-8368 51-0228924
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(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of incorporation) Number)
1301 Gervais Street, Suite 300, Columbia, South Carolina 29201
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 933-4200
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ITEM 5. OTHER EVENTS
On February 23, 1998 Laidlaw Environmental Services, Inc. ("LESI")
(NYSE:LLE) announced that the exchange ratio for purposes of its offer for
Safety-Kleen Corp. (NYSE:SK) will be 2.8 LLE common shares for each SK common
share validly tendered and not withdrawn, in addition to the $18.00 per SK
common share SK shareholders will be entitled to receive in cash. The full text
of the announcement is reproduced below.
FOR IMMEDIATE RELEASE
CONTACT: KENNETH W. WINGER
PRESIDENT AND CHIEF EXECUTIVE OFFICER
PAUL R. HUMPHREYS
SENIOR VICE PRESIDENT, FINANCE AND CHIEF FINANCIAL OFFICER
(803)933-4210
LAIDLAW ENVIRONMENTAL ANNOUNCES EXCHANGE RATIO
COLUMBIA, SOUTH CAROLINA...FEBRUARY 23, 1998. Laidlaw Environmental Services,
Inc. (NYSE:LLE) today announced that the exchange ratio for purposes of its
offer for Safety-Kleen Corp. (NYSE:SK), which is currently scheduled to expire
at 12:00 Midnight, New York City time, on February 26, 1998, will be 2.8 LLE
common shares for each SK common share validly tendered and not withdrawn, in
addition to the $18.00 per SK common share SK shareholders will be entitled to
receive in cash.
Commenting on the announcement, Mr. Kenneth W. Winger, president and chief
executive officer, said:
"We urge all Safety-Kleen shareholders to vote against the Philip Group
merger proposal on February 25, 1998. LLE is committed to pursuing its offer to
SK shareholders, and will seek injunctive relief in Chicago Federal Court should
SK shareholders reject the Philip Group merger proposal and the SK Board fail to
remove the remaining obstacles."
Laidlaw Environmental Services is the leading provider of hazardous and
industrial waste management services to industry and government. The company
operates from more than 100 locations throughout North America.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LAIDLAW ENVIRONMENTAL SERVICES, INC.
Date: February 24, 1998 By: /s/ Kenneth W. Winger
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Kenneth W. Winger, President
and Chief Executive Officer
