Replies to post #41648 on FLIGHT SCHOOL

[bagheera]

agrees to be bought out for 6.50

ec 22, 2011 (M&A Navigator via COMTEX) --
22 December 2011 - US solid waste management company WCA Waste Corporation
(NASDAQ:WCAA) announced that it had agreed to be taken over by Macquarie
Infrastructure Partners II (MIP II), a North American investment fund managed
by a unit of Australian financial services provider Macquarie Group (ASX:MQG).
WCA said in its statement that the total value of the deal amounted to about
USD526m (EUR403m). MIP II will pay USD6.50 per share in cash for all
outstanding WCA common shares and will redeem all of its Series A preferred
shares. The fund will also refinance, either in part or fully, the target's
existing credit facilities. The negotiated price carries a 30% premium to
WCA's closing on 20 December.
The transaction has been approved by all WCA board directors. It also needs
to secure the blessing of its shareholders, obtain certain regulatory
clearances and meet standard closing conditions. Provided all goes according
to plan, completion is expected during the first quarter of 2012. Once the
deal is finalised, WCA's common shares will be delisted from NASDAQ.
MIP II will finance the purchase through a mixture of shareholder capital and
new underwritten credit facilities, the statement said.
Macquarie Capital and Mayer Brown LLP took care of financial and legal
matters respectively for MIP II, while WCA relied on the legal advice of
Andrews Kurth LLP.
Country: USA,
Sector: Waste Management/Environment
Target: WCA Waste Corporation
Buyer: Macquarie Group, Macquarie Infrastructure Partners II
Deal size in USD: 526m
Type: P2P