Washington Group International Chairman Dennis Washington Receives Hart-Scott-Rodino Clearance to Exercise Options
November 12 2007 - 7:00AM
PR Newswire (US)
Stockholder Meeting to Approve URS Merger Transaction Remains
Scheduled for November 15 BOISE, Idaho, Nov. 12
/PRNewswire-FirstCall/ -- Washington Group International, Inc.
(NYSE:WNG) today announced that Dennis Washington, its
non-executive chairman, has received early termination of the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976 to permit him to exercise all of his stock options for
Washington Group common stock (3.224 million shares equal to
approximately 10 percent of the currently outstanding Washington
Group common stock). The special meeting of Washington Group
stockholders to consider the merger transaction with URS
Corporation (NYSE:URS) is scheduled to be held at 7 a.m., local
time, Thursday, November 15, 2007, at Washington Group's offices
located at 720 Park Boulevard, Boise, Idaho. Washington Group's
Board of Directors unanimously recommends that stockholders vote
"FOR" approval of the amended merger agreement with URS. As
previously announced, Dennis Washington has agreed to exercise all
of his stock options and vote his shares in favor of approval of
Washington Group's amended merger agreement with URS if it is
determined to be necessary to achieve the required Washington Group
stockholder approval. If it becomes necessary for him to exercise
his options and vote his shares, a new record date will be set for
late November and a new meeting date for the Washington Group
special meeting will be set for late December. Stockholders who
have questions about the merger or need assistance in submitting
their proxies or voting their shares should contact Washington
Group's proxy solicitor, MacKenzie Partners, Inc., by calling
800-322-2885 (toll-free) or 212-929-5500 (collect) or e-mailing .
The failure to vote is the same as voting against the proposed
merger, as approval of the amended merger agreement requires the
affirmative vote of holders of a majority of the outstanding shares
of common stock of Washington Group. Washington Group International
(NYSE:WNG) provides the talent, innovation, and proven performance
to deliver integrated engineering, construction, and management
solutions for businesses and governments worldwide. Headquartered
in Boise, Idaho, with approximately $4 billion in annual revenue,
the company has approximately 25,000 people at work around the
world providing solutions in power, environmental management,
defense, oil and gas processing, mining, industrial facilities,
transportation and water resources. For more information, visit
http://www.wgint.com/. Additional Information and Where to Find It
In connection with the proposed transaction, URS and Washington
Group International filed a definitive joint proxy
statement/prospectus, a supplement to the definitive joint proxy
statement/prospectus, and other materials with the Securities and
Exchange Commission (the "SEC"), and URS filed a registration
statement on Form S-4. Investors and security holders are urged to
read the definitive joint proxy statement/prospectus, the
supplement, the registration statement on Form S-4 and the other
materials filed with the SEC as they contain important information
about the proposed transaction. Investors and security holders may
obtain free copies of these documents and other documents filed
with the SEC at the SEC's Web site at http://www.sec.gov/. In
addition, investors and security holders may obtain free copies of
the documents filed with the SEC by URS by contacting URS Investor
Relations at 877-877-8970. Investors and security holders may
obtain free copies of the documents filed with the SEC by
Washington Group by contacting Washington Group Investor Relations
at 866-964-4636. In addition, you may also find information about
the merger transaction at http://www.urs-wng.com/. URS, Washington
Group and their directors and executive officers may be deemed
participants in the solicitation of proxies from the stockholders
of URS and Washington Group in connection with the proposed
transaction. Information regarding the special interests of these
directors and executive officers in the proposed transaction is
included in definitive joint proxy statement/prospectus described
above. Additional information regarding the directors and executive
officers of URS is also included in URS' proxy statement for its
2007 Annual Meeting of Stockholders, which was filed with the SEC
on April 18, 2007. Additional information regarding the directors
and executive officers of Washington Group is also included in
Washington Group's proxy statement for its 2007 Annual Meeting of
Stockholders, which was filed with the SEC on April 17, 2007, as
amended. These documents are available free of charge at the SEC's
Web site at http://www.sec.gov/ and from Investor Relations at URS
and Washington Group as described above. Contacts: Investors:
Executive Vice President & Chief Financial Officer George H.
Juetten, 208-386-5698 Or MacKenzie Partners, Inc. Dan Burch or
Larry Dennedy, 212-929-5239 Media: Vice President of Corporate
Communications Laurie Spiegelberg, 208-386-5255 Or Kekst & Co
Adam Weiner, 212-521-4800 DATASOURCE: Washington Group
International, Inc. CONTACT: Investors, George H. Juetten,
Executive Vice President & Chief Financial Officer of
Washington Group International, Inc., +1-208-386-5698; or Dan Burch
or Larry Dennedy, both of MacKenzie Partners, Inc.,
+1-212-929-5239, for Washington Group International, Inc.; or
Media, Laurie Spiegelberg, Vice President of Corporate
Communications of Washington Group International, Inc.,
+1-208-386-5255; or Adam Weiner of Kekst & Co, +1-212-521-4800,
for Washington Group International, Inc. Web site:
http://www.wgint.com/
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