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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 25, 1998 (February 24, 1998)
Laidlaw Environmental Services, Inc.
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(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 24, 1998 Laidlaw Environmental Services, Inc. ("LESI")
(NYSE:LLE) issued a press release urging all Safety-Kleen Corp. (NYSE:SK)
shareholders to vote against the Philip Group merger proposal on February 25,
1998. Note that the press release contains statements regarding LESI's opinion
regarding the superior value of LESI's offer to purchase SK stock as compared to
the Philip Group's merger as well as LESI's opinion that SK shareholder's
acceptance of LESI's offer will create value to all continuing shareholders. 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 COMMITTED TO SAFETY-KLEEN OFFER
COLUMBIA, SOUTH CAROLINA...FEBRUARY 24, 1998. Laidlaw Environmental Services,
Inc. (NYSE:LLE) continues to urge all Safety-Kleen Corp. (NYSE:SK) shareholders
to vote against the Philip Group merger proposal on February 25, 1998.
Commenting on LLE's commitment to successfully completing its offer to SK
shareholders, Mr. Kenneth W. Winger, LLE's president and chief executive
officer, said:
"LLE reaffirms its commitment to pursue its existing offer to the SK
shareholders. If the SK shareholders vote against the Philip Group merger
proposal on February 25, 1998, LLE will continue to fight to ensure that
the SK shareholders have the opportunity to realize what we believe is
the clearly superior offer."
Commenting on Laidlaw Inc.'s support for LLE's offer to SK shareholders, Mr.
James R. Bullock, LLE's chairman and president and chief executive officer of
Laidlaw Inc. (NYSE:LDW), said:
"Laidlaw Inc. has more than $850 million invested in LLE and it must be
absolutely obvious we would not support the LLE acquisition of SK if we
weren't completely satisfied the transaction was beneficial to LLE
shareholders afterwards. LLE and SK are an ideal combination and Laidlaw
Inc. is and will remain fully committed to supporting the LLE acquisition
of SK under the terms of its tender offer if the Philip merger is
defeated on February 25, 1998."
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 25, 1998 By: /s/ Kenneth W. Winger
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Kenneth W. Winger, President
and Chief Executive Officer
