John W. Croghan Appointed to Board of Directors
FORT LAUDERDALE, Fla., July 7 /PRNewswire/ -- Republic Services, Inc.
(NYSE: RSG) announced today that it has completed its initial public offering
of 63.25 million shares of Class A Common Stock, including the exercise of an
underwriters' over-allotment of 8.25 million shares. As a result of the
offering, Republic Services, Inc. received cash of $1.44 billion, which it
will use to repay intercompany obligations owed to its parent company,
Republic Industries, Inc. (NYSE: RII). The underwriters include Merrill Lynch
& Co., Deutsche Bank Securities, and Donaldson, Lufkin & Jenrette Securities
Corporation.
Republic Services, Inc. also announced today that John W. Croghan,
President of Lincoln Partners, has been appointed to the company's Board of
Directors. Mr. Croghan is a founder and past Chairman of Lincoln Capital, an
investment management firm with over $50 billion of assets under management.
He is a director of several Morgan Stanley public closed-end funds, Lindsay
Manufacturing Company, and St. Paul Bancorp. A graduate of Loyola University
and the Harvard Business School, he is also a trustee of Northwestern
University and Evanston Northwestern Healthcare.
SOURCE Republic Services, Inc.