A little more than two months after filing for an initial public offering that was expected to raise $400 million, Plano, Texasbased oil re-refiner Safety-Kleen, Inc. has decided instead to sell itself to Clean Harbors, Inc., in a $1.25 billion all-cash deal.
Clean Harbors, whose environmental and industrial services include hazardous waste disposal, announced Monday that it has agreed to acquire Safety-Kleen. In its deal announcement, Norwell, Massachusettsbased Clean Harbors said the acquisition would allow it to both expand its waste-treatment services and take advantage of increasing demand for recycled products.
