1st May 2007 10:09
1 May 2007 FIRSTGROUP PLC Proposed acquisition of Laidlaw International, Inc. Regulatory conditions update
FirstGroup confirms that it has received from the Antitrust Division of the U.S. Department of Justice (the "DOJ") a request for additional information in connection with its agreement to acquire Laidlaw International, Inc.. The request for additional information, commonly referred to as a "second request", has been issued pursuant to the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). The second request is focused primarily on the parties' school bus businesses and does not include the parties' transit businesses.
The effect of the second request is to extend the waiting period imposed
by the HSR Act until 30 days after FirstGroup and Laidlaw have substantially complied with the second request, unless that period is extended voluntarily by the parties or terminated sooner by the DOJ. FirstGroup and Laidlaw will continue cooperating fully with the DOJ's review and will comply with the second request as expeditiously as possible.
The Board has no further update on the likely completion date.
Contacts:
Rachael Borthwick,
Group Corporate Communications Director
FirstGroup plc 020 7291 0508
Malcolm Moir, J P Morgan Cazenove 020 7588 2828
FIRSTGROUP PLCRelated Shares:
Firstgroup