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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): April 1, 1998 (April 1, 1998)
Laidlaw Environmental Services, Inc.
(Exact name of Company as specified in its charter)
Delaware 1-8368 51-0228924
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of incorporation) Number)
1301 Gervais Street, Suite 300, Columbia, South Carolina 29201
(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
In a press release, on April 1, 1998 Laidlaw Environmental Services,
Inc. ("LESI") (NYSE:LLE) announced that as of midnight, March 31, 1998 it has
received approximately 94% of SK's outstanding shares under its exchange offer
for SK. The full text of the announcement is reproduced below. Note that the
announcement contains statements of LESI's opinion regarding the creation of
value for shareholders from the combined company.
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 EXCHANGE OFFER FOR SAFETY-KLEEN SUCCESSFUL
Columbia, SC (April 1, 1998) - Laidlaw Environmental Services, Inc. (NYSE:LLE)
said today that it has received the number of shares required under its exchange
offer for Safety-Kleen Corp. (NYSE:SK) shares. 56,138,238 shares, or
approximately 94%, of SK's outstanding shares were tendered as of midnight,
March 31, 1998, the expiration date of the exchange offer. A tender of more than
two-thirds of SK shares was required.
LLE stated that it has accepted for exchange the shares tendered and
expects to pay for those shares on Friday, April 3, 1998. Notwithstanding the
tender of more than 90%, Wisconsin law does not permit the back-end merger to
take place without a meeting of the shareholders. Therefore, the back-end merger
for those who did not tender will follow in approximately six weeks.
Kenneth W. Winger, President and CEO of Laidlaw Environmental, stated:
"We are gratified to have succeeded with our offer to SK shareholders
and are eager to implement our plans to create value from the combined company.
We look forward to the participation of our new shareholders in our future and
to servicing an expanded range of customers with an enhanced array of services."
Safety-Kleen is an environmental and industrial service company which
recycles and processes the waste streams of 400,000 industrial and automotive
customers.
Laidlaw Environmental Services is the leading provider of hazardous and
industrial waste management services to industries and governments. The company
operates from more than 100 locations throughout North America.
-END-
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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: April 1, 1998 By: /s/ Kenneth W. Winger
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Kenneth W. Winger, President
and Chief Executive Officer
