Date: June 6, 2002
Source: News Room
Clean Harbors Inc.'s bid for Safety-Kleen Corp.'s chemical services division has been designated as the only qualified bid by the bankrupt South Carolina company. Clean Harbors has said Safety Clean won't auction the assets in question and will instead submit its bid to the bankruptcy court for approval later this week. Clean Harbors, which provides a variety of environmental services, has been competing with Onyx Environmental Services, a unit of Vivendi Environment SA, for the assets. Under the deal, Clean Harbors would acquire 2,800 employees and 50 primary facilities in exchange for $46.3 million in cash and $265 million in environmental liabilities.
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