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
September 13, 1999
---------------------------------
(Date of earliest event reported)
SAFETY-KLEEN CORP.
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 001-8368 51-0228924
- --------------------------------------------------------------------------------
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
1301 Gervais Street, Suite 300,
Columbia, South Carolina 29201
------------------------------
(Address of principal executive offices, including zip code)
(803) 933-4200
----------------------------------------------------
(Registrant's telephone number, including area code)
Not Applicable
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
2
Item 5. Other Events
On September 13, 1999, Safety-Kleen Corp. (NYSE:SK) announced that it
has been informed that Laidlaw Inc. plans to actively seek a buyer for its
interest in the Company. Laidlaw Inc. has further indicated that this
divestiture is expected to be completed over the course of the next six to
twelve months. The full text of the announcement is reproduced below.
For Immediate Release
SK 44% SHAREHOLDER CLARIFIES DIVESTITURE PLAN
Columbia, S.C. --September 13, 1999--Safety-Kleen Corp. (NYSE:SK) today
announced it has been informed that Laidlaw Inc. (NYSE:LDW) plans to actively
seek a buyer for its interest in the Company. Laidlaw Inc. has further indicated
that this divestiture is expected to be completed over the course of the next
six to twelve months.
Laidlaw Inc. currently holds approximately 43.8 million shares, or 44% of the
Company's outstanding stock.
Commenting on the change in Laidlaw Inc.'s time horizon for divesting its
investment in Safety-Kleen Corp., Kenneth W. Winger, President and CEO, said
"The Board of Directors will meet promptly to discuss Laidlaw Inc.'s
announcement and will consider whether any action should be taken at that time."
Safety-Kleen Corp. is the leading industrial waste service company for both
hazardous and non-hazardous waste streams. From collection through recycle and
disposal, the Company provides comprehensive waste management services to over
400,000 customers in North America.
For further information contact:
- --------------------------------
Kenneth W. Winger, President and Chief Executive Officer - (803)-933-4212 Paul
R. Humphreys, Senior Vice President, Finance and Chief Financial Officer - (803)
933-4261 Safety-Kleen Investor Relations - (803) 933-4285
Private Securities Litigation Reform Act:
- -----------------------------------------
Sections of this release constitute forward-looking statements that involve a
number of risks and uncertainties. Many factors could cause actual results to
differ materially from our expected results. These factors include risks
associated with acquisitions; achievement of synergy objectives; the attainment
of revenue growth targets; the adoption of new environmental laws and
regulations and how they are interpreted and enforced; changes in demand for the
Company's services, competition; and prices for petroleum-based products.
2
<PAGE>
3
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.
SAFETY-KLEEN CORP.
By: /s/ Kenneth W. Winger
---------------------
Name: Kenneth W. Winger
Title: President and Chief Executive Officer
Date: September 13, 1999
3
