Laidlaw, FirstGroup clear one more approval hurdle

By Lisa Kerner

Charlotte, N.C., June 20 - Laidlaw International, Inc. received clearance from the Canadian Competition Bureau in its proposed merger with FirstGroup plc, according to a form 8-K filing with the Securities and Exchange Commission.

The merger is already approved by the U.S. Surface Transportation Board and the Committee on Foreign Investment in the United States under the Exon-Florio amendment, a news release stated.

However, a second request from the Antitrust Division of the U.S. Department of Justice announced on May 1 added an additional 30 days to the Hart-Scott-Rodino waiting period.

On Feb. 9, Laidlaw agreed to be acquired by FirstGroup for $35.25 per share in a deal valued at $3.6 billion, including debt.

Laidlaw is a Naperville, Ill., holding company for North America's largest providers of school and inter-city bus transport services and a supplier of public transit services. FirstGroup is a passenger transport group based in Aberdeen, Scotland.

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