Waste Connections Will Acquire R360 for $1.3B

Waste Connections, Inc. WCN today announced that it has entered into an agreement to acquire the business and operating subsidiaries of R360 Environmental Solutions, Inc. (together, "R360") for approximately $1.3 billion in cash. R360 is a leading provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the oil-rich Permian, Bakken and Eagle Ford Basins. It operates 26 facilities across Louisiana, New Mexico, North Dakota, Oklahoma, Texas and Wyoming and has annualized revenue of approximately $300 million. The transaction remains subject to certain closing conditions, including receipt of regulatory approvals. Closing is expected to occur in the fourth quarter of 2012.