February 11, 2006

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EnergySolutions to Buy Duratek for Nuclear-Waste Jobs
Bloomberg News/Salt Lake Tribune, UT
February 8, 2006

EnergySolutions, the former Envirocare of Utah, agreed to buy Duratek Inc., which handles hazardous waste, for about $345 million to add revenue from disposing nuclear waste.
   

The per-share bid of $22 is a 26 percent premium to Duratek's closing price yesterday. The acquisition, which includes $51 million of assumed debt, will be funded partly by loans from Citigroup Inc. and other banks, Columbia, Maryland- based Duratek said today in a statement.
   

EnergySolutions, based in Salt Lake City, is owned by a private investor group led by Lindsay Goldberg & Bessemer, Peterson Partners and Creamer Investments. Earlier this month, it agreed to spend $90 million on a U.S. unit from British Nuclear Fuels that decommissions nuclear power plants.
   

Shares of Duratek $3.92 to $21.42 at 10:53 a.m. in New York Stock Exchange composite trading. They had gained 17 percent this year.
   

Duratek said it plans to seek stockholder approval in the second quarter and expects the sale to close after their approval and regulators'.