FirstGroup completes Laidlaw acquisition
Stephen Gorman, Laidlaw CEO/president, steps down.
FirstGroup plc has completed its acquisition of Laidlaw International Inc., the Naperville, Ill.-based holding company for Laidlaw Transit, Greyhound Lines, Greyhound Canada and Laidlaw Education Services, as of Oct. 1.
Following the announcement, Laidlaw's President/CEO Stephen Gorman stepped down and was replaced by Dave Leach, who had previously served as COO.
In February, Laidlaw announced that the company had entered into a merger agreement with FirstGroup to acquire all outstanding shares of Laidlaw for $35.25 per share. The deal combines North America’s two largest private school bus operators — Laidlaw Education Services and First Student Inc. — giving them a combined 40% of the school bus contractor market.
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