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Waste Industries set to go private Friday in deal valued at $544 million
By Lisa Kerner
Charlotte, N.C., May 8 - Waste Industries USA, Inc. shareholders approved the company's acquisition by an investor group at a special meeting on Thursday.
The transaction is expected to be effective Friday, according to a company news release.
Waste Industries' shares were set to be delisted from the Nasdaq prior to trading on Friday.
As previously reported, the investor group is led by company founder and chairman Lonnie C. Poole Jr. and president and chief executive officer Jim W. Perry.
On Dec. 17, Waste Industries announced it agreed to be acquired by Marlin HoldCo LP and its subsidiary Marlin MergeCo Inc. for $38 cash per share in a going-private transaction valued at approximately $544 million.
The solid waste services company will continue to operate under its original name and will maintain its Raleigh, N.C., headquarters.
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