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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 9, 1998 (February 6, 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 6, 1998 Laidlaw Environmental Services, Inc. ("LESI")
(NYSE:LLE) announced that Institutional Shareholder Services has released a
report stating that the Laidlaw Environmental offer for Safety-Kleen Corp.
(NYSE:SK) is "superior" to the terms of the proposed merger between Safety-Kleen
and affiliates of Philip Services Corp. and recommends that Safety-Kleen
shareholders vote against the Philip Group merger. 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
INSTITUTIONAL SHAREHOLDER SERVICES REPORT FINDS
LAIDLAW ENVIRONMENTAL OFFER SUPERIOR
COLUMBIA, SOUTH CAROLINA...FEBRUARY 6, 1998. Laidlaw Environmental Services,
Inc. (NYSE:LLE) today announced that Institutional Shareholder Services (ISS),
the nation's leading independent proxy advisory firm, has released a report
stating that the Laidlaw Environmental offer for Safety-Kleen Corp. (NYSE:SK) is
"superior" to the terms of the proposed merger between Safety-Kleen and
affiliates of Philip Services Corp., and that Safety-Kleen's poison pill "is
being used to deter a higher offer." The report concludes by stating that
Safety-Kleen shareholders "should not support the [Philip Group] merger
agreement," and recommends that Safety-Kleen shareholders vote against the
Philip Group merger.
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 9, 1998 By: /s/ Kenneth W. Winger
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Kenneth W. Winger, President
and Chief Executive Officer
