NAPERVILLE, ILL., April 20 /CNW/ - Laidlaw International, Inc. (NYSE: LI)
announced that its stockholders have approved the merger with FirstGroup plc
(LSE:FGP) at a Special Meeting held today. Earlier in the day, FirstGroup
announced its shareholders passed resolutions to approve, among other things,
the acquisition of Laidlaw at an Extraordinary General Meeting.
The merger transaction is subject to certain closing conditions,
including regulatory approval in the U.S. and Canada.
On February 9, 2007 Laidlaw announced that the Company had entered into a
merger agreement with FirstGroup plc to acquire all outstanding shares of
Laidlaw for $35.25 per share.
About Laidlaw International, Inc.
Laidlaw International, Inc. is a holding company for North America's
largest providers of school and inter-city bus transport services and a
leading supplier of public transit services. The company's businesses operate
under the brands: Laidlaw Education Services, Greyhound Lines, Greyhound
Canada and Laidlaw Transit. The company's shares trade on the New York Stock
Exchange (NYSE: LI). For more information on Laidlaw, visit the website:
About FirstGroup PLC
FirstGroup plc is the UK's largest surface transportation company.
FirstGroup operates passenger and freight rail services in the UK. Its
passenger operations include regional, intercity and commuter services.
FirstGroup is also the UK's largest bus operator running more than one in five
of all local bus services. In North America, FirstGroup has three operating
divisions: yellow school buses (First Student), transit contracting and
management services (First Transit) and vehicle maintenance and ancillary
services (First Services). FirstGroup's shares trade on the London Stock
Exchange (LSE:FGP). For more information on FirstGroup, visit the website:
Certain statements contained in this press release, including statements
that are not historical facts, are forward-looking statements made under the
safe-harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by the use of
terminology such as: believe, hope, may, anticipate, should, intend, plan,
will, expect, estimate, continue, project, positioned, strategy and similar
expressions. Such statements involve certain risks, uncertainties and
assumptions that include, but are not limited to: (i) the ability to
successfully integrate Laidlaw and FirstGroup into a combined company and
execute its business strategy; (ii) economic and other market factors,
including competitive pressures in the transportation industry and changes in
pricing policies; (iii) the ability to implement initiatives designed to
realize synergies, increase operating efficiencies or improve results; (iv)
continued increases in prices of fuel and potential shortages; (v) control of
costs related to accident and other risk management claims; (vi) the potential
for rising labor costs and actions taken by organized labor unions; (vii)
terrorism and other acts of violence; (viii) other risks and uncertainties
related to the proposed transaction, including but not limited to the
satisfaction of conditions to closing; including receipt of regulatory and
other approvals; and (ix) other risks and uncertainties described in Laidlaw's
filings with the Securities and Exchange Commission (SEC).
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual outcomes may vary materially
from those indicated. In light of these risks and uncertainties you are
cautioned not to place undue reliance on these forward-looking statements.
Laidlaw undertakes no obligation to publicly update forward-looking
statements, whether as a result of new information, future events or
otherwise. You are advised, however, to consult any further disclosures
Laidlaw makes on related subjects as may be detailed in Laidlaw's other
filings made from time to time with the SEC.
For further information:
For further information: Laidlaw International, Inc. Sarah Lewensohn
Director, Investor Relations Phone: 630-848-3120