Laidlaw, FirstGroup merger clears two approval hurdles

By Lisa Kerner

Charlotte, N.C., May 23 - The U.S. Surface Transportation Board approved Laidlaw International, Inc.'s proposed merger with FirstGroup plc. Earlier this month, the merger was approved by the Committee on Foreign Investment in the United States under provisions of the Exon-Florio amendment, a company news release stated.

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.

A second request by the U.S. Department of Justice has pushed back the Hart-Scott-Rodino waiting period. Laidlaw shareholders have already approved the deal.

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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