Business Services Industry
Republic Services and Allied Waste Announce Merger Integration Team
Business Wire, July 23, 2008
FORT LAUDERDALE, Fla. & PHOENIX -- Republic Services, Inc. (NYSE: RSG) and Allied Waste Industries, Inc. (NYSE: AW) today announced that Michael Cordesman, Republic's President and Chief Operating Officer, and Christopher Melocik, Allied's Senior Vice President of Operations Effectiveness, will lead the integration planning process associated with the companies' merger agreement announced on June 23, 2008.
Related Results
The integration team -- which also comprises approximately 10 functional experts from each company, as well as Republic Chairman and Chief Executive Officer James O'Connor, Allied Waste President and Chief Operating Officer Don Slager, Republic Chief Financial Officer Tod Holmes and Allied Waste Executive Vice President and Chief Personnel Officer Ed Evans -- will select the people, systems and business processes from both organizations to fully capture the $150 million of announced net annual operating synergies and ensure that the company is in the strongest position for ongoing success.
Republic Services and Allied Waste also announced today that they have retained Deloitte Consulting LLP to advise the companies on merger integration planning. Deloitte is one of the country's leading merger integration consulting firms, having advised on hundreds of transactions in the recent years. Representatives from Deloitte will work closely with the integration team.
"Our leadership teams are committed to an effective and efficient integration of our operations and our people, and we are excited to have already made important progress in the integration process," said Mr. O'Connor. "The integration team is already developing the critical action plans and processes that will begin upon completion of the merger. We look forward to working with Deloitte's experts, who will advise our integration team on creating a plan that effectively integrates the companies and enables us to realize the significant benefits of this combination."
"Mike and Chris will focus on the critical corporate, financial, operational and employee integration points that can drive the future success of the merged company," said Mr. Slager. "We have already formed functional teams that have begun the vital work of planning for a seamless integration. We intend to hit the ground running on day one - ensuring that we create a rewarding and safe workplace for our employees, provide uninterrupted superior service to customers while continuing to generate value for our shareholders."
As previously announced on June 23, 2008, the companies' boards of directors unanimously approved a definitive merger agreement that firmly establishes one of the nation's leading waste and environmental services providers, with expected pro forma annual revenues of approximately $9 billion and an expected total market capitalization of approximately $12 billion. The combined company will have more than 35,000 employees serving more than 13 million customers in 40 states and Puerto Rico. The companies expect to achieve approximately $150 million in net pretax annual synergies by the third year following the completion of the transaction, primarily from achieving greater operating efficiencies, capturing inherent economies of scale and leveraging corporate and overhead resources.
The transaction is expected to close by the fourth quarter of 2008, and to be accretive to Republic's earnings per share and cash flow per share in the first year following completion of the merger.
The companies will continue to post updates at www.RepublicAllied.com.
About Republic Services, Inc.
Republic Services, Inc. is a leading provider of environmental services including solid waste collection, transfer and disposal services in the United States. The company's operating units are focused on providing solid waste services for commercial, industrial, municipal and residential customers.
About Allied Waste Industries, Inc.
Allied Waste is America's second largest non-hazardous solid waste services company and an environmental leader. Headquartered in Phoenix, AZ, Allied Waste provides waste collection, transfer, recycling and disposal services to millions of residential, commercial and industrial customers in over 100 major markets spanning 38 states and Puerto Rico. Allied's team of more than 22,000 dedicated employees operates within a highly efficient, integrated organization that generated 2007 revenue of $6.1 billion.
Additional Information and Where to Find It
This communication is being made in respect of the proposed business combination involving Republic and Allied. In connection with the proposed transaction, Republic plans to file with the SEC a Registration Statement on Form S-4 containing a Joint Proxy Statement/Prospectus and each of Republic and Allied plan to file with the SEC other documents regarding the proposed transaction. The definitive Joint Proxy Statement/Prospectus will be mailed to stockholders of Republic and Allied. INVESTORS AND SECURITY HOLDERS OF REPUBLIC AND ALLIED ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the Registration Statement and the definitive Joint Proxy Statement/Prospectus (when available) and other documents filed with the SEC by Republic and Allied through the website maintained by the SEC at www.sec.gov. Free copies of the Registration Statement and the definitive Joint Proxy Statement/Prospectus (when available) and other documents filed with the SEC can also be obtained by directing a request to Republic Services, Inc., 110 SE 6th Street, 28th Floor, Fort Lauderdale, Florida, 33301 Attention: Investor Relations or by directing a request to Allied Waste Industries, Inc., 18500 North Allied Way, Phoenix, Arizona 85054, Attention: Investor Relations.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions



