0001140361-13-027490.txt : 20130705 0001140361-13-027490.hdr.sgml : 20130704 20130705120348 ACCESSION NUMBER: 0001140361-13-027490 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20130705 DATE AS OF CHANGE: 20130705 GROUP MEMBERS: BLUE HARBOUR HOLDINGS, LLC GROUP MEMBERS: CLIFTON S. ROBBINS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Progressive Waste Solutions Ltd. CENTRAL INDEX KEY: 0001318220 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-85306 FILM NUMBER: 13955265 BUSINESS ADDRESS: STREET 1: 400 APPLEWOOD CRESCENT, 2ND FLOOR CITY: VAUGHAN STATE: A6 ZIP: L4K 0C3 BUSINESS PHONE: (905) 532-7510 MAIL ADDRESS: STREET 1: 400 APPLEWOOD CRESCENT, 2ND FLOOR CITY: VAUGHAN STATE: A6 ZIP: L4K 0C3 FORMER COMPANY: FORMER CONFORMED NAME: IESI-BFC Ltd DATE OF NAME CHANGE: 20090522 FORMER COMPANY: FORMER CONFORMED NAME: BFI Canada Ltd DATE OF NAME CHANGE: 20081015 FORMER COMPANY: FORMER CONFORMED NAME: BFI Canada Income Fund DATE OF NAME CHANGE: 20050217 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Blue Harbour Group, LP CENTRAL INDEX KEY: 0001325256 IRS NUMBER: 562457376 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 646 STEAMBOAT RD. CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 203-422-6560 MAIL ADDRESS: STREET 1: 646 STEAMBOAT RD. CITY: GREENWICH STATE: CT ZIP: 06830 SC 13D 1 formsc13d.htm BLUE HARBOUR GROUP, LP SC 13D 6-27-2013 (PROGRESSIVE)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934

PROGRESSIVE WASTE SOLUTIONS LTD.
(Name of Issuer)
 
COMMON SHARES
(Title of class of securities)
 
74339G101
(CUSIP number)
 
Robb LeMasters
Blue Harbour Group, LP
646 Steamboat Road
Greenwich, Connecticut 06830
(203) 422-6540
(Name, address and telephone number of person authorized to receive notices and communications)
 
JUNE 27, 2013
(Date of event which requires filing of this statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box o.
 


CUSIP No. 74339G101
13D
Page 2

1
NAME OF REPORTING PERSON:
Blue Harbour Group, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)  o
(b)  x
3
SEC USE ONLY
4
SOURCE OF FUNDS:
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
NUMBER OF
SHARES
7
SOLE VOTING POWER:
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER:
6,399,428
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER:
0
 
PERSON WITH
10
SHARED DISPOSITIVE POWER:
 
6,399,428
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
 
6,399,428
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
 
                      5.6%
 
14
TYPE OF REPORTING PERSON:
PN
 

CUSIP No. 74339G101
13D
Page 3
 
1
NAME OF REPORTING PERSON:
Blue Harbour Holdings, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)  o
(b)  x
3
SEC USE ONLY
4
SOURCE OF FUNDS:
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
NUMBER OF
SHARES
7
SOLE VOTING POWER:
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER:
6,399,428
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER:
0
 
PERSON WITH
10
SHARED DISPOSITIVE POWER:
6,399,428
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
 
               6,399,428
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
 
5.6%
 
14
TYPE OF REPORTING PERSON:
OO
 

CUSIP No. 74339G101
13D
Page 4
 
1
NAME OF REPORTING PERSON:
Clifton S. Robbins
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)  o
(b)  x
3
SEC USE ONLY
4
SOURCE OF FUNDS:
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
 
o
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
NUMBER OF
SHARES
7
SOLE VOTING POWER:
0
 
BENEFICIALLY
OWNED BY
8
SHARED VOTING POWER:
6,399,428
 
EACH
REPORTING
9
SOLE DISPOSITIVE POWER:
0
 
PERSON WITH
10
SHARED DISPOSITIVE POWER:
6,399,428
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
 
               6,399,428
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:
 
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
 
                 5.6%
 
14
TYPE OF REPORTING PERSON:
IN
 


ITEM 1. SECURITY AND ISSUER
 
The title and class of equity security to which this Statement on Schedule 13D relates are the common shares (“Common Stock”), of Progressive Waste Solutions Ltd. (the “Company”).  The address of the Company’s principal executive offices is 400 Applewood Crescent, 2nd Floor, Vaughan, Ontario, L4K 0C3, Canada.
 
ITEM 2. IDENTITY AND BACKGROUND.
 
This Statement on Schedule 13D is being filed by and on behalf of Blue Harbour Group, LP, a Delaware limited partnership (“Manager”), Blue Harbour Holdings, LLC, a Delaware limited liability company (“Manager GP”), and Clifton S. Robbins, a citizen of the United States of America (“Mr. Robbins”).  Manager, Manager GP and Mr. Robbins are herein sometimes referred to each as a “Reporting Person” and collectively as the “Reporting Persons.”
 
The address of the principal office of Manager and Manager GP is 646 Steamboat Road, Greenwich, Connecticut 06830, and Mr. Robbins’ business address is c/o Manager at the foregoing address.  Mr. Robbins is the Chief Executive Officer of Manager.
 
Manager is principally involved in the business of providing investment advisory and investment management services.  Manager GP is principally involved in the business of serving as the general partner of Manager.
 
During the last five years, none of the Reporting Persons nor, to the best of their knowledge, any of their officers and directors, has (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
 
The 6,399,428 shares of Common Stock reported herein by the Reporting Persons were acquired by the Manager for an aggregate purchase price of approximately $130,805,034 (excluding brokerage commissions).  The shares of Common Stock that are reported on this Statement on Schedule 13D were acquired with working capital of the Manager, which at any given time may include funds borrowed on margin in the ordinary course and on customary terms.
ITEM 4. PURPOSE OF TRANSACTION.
 
The Reporting Persons have acquired the Company’s Common Stock for investment purposes, and such purchases have been made in the Reporting Persons’ ordinary course of business.
 
In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise deal in the securities of the Company at times, and in such manner, as they deem advisable to benefit from changes in market prices of such securities, changes in the Company’s operations, business strategy or prospects, or from a sale or merger of the Company. To evaluate such alternatives, the Reporting Persons will routinely monitor the Company’s operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as well as alternative investment opportunities, liquidity requirements of the Reporting Persons and other investment considerations.
5

Consistent with its investment research process, the Reporting Persons may engage in communications regarding such matters with members of management and the Board of Directors of the Company, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and discussions may materially affect, and result in, the Reporting Persons modifying their ownership of securities of the Company, exchanging information with the Company pursuant to appropriate confidentiality or similar agreements, proposing changes in the Company’s operations, governance or capitalization, or in proposing one or more of the other actions described in subsections (a) through (j) of Item 4 of Schedule 13D.
 
The Reporting Persons reserve the right to formulate other plans and/or make other proposals, and take such actions with respect to their investment in the Company, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional securities of the Company or dispose of all the securities of the Company beneficially owned by them, in public market or privately negotiated transactions. The Reporting Persons may at any time reconsider and change their plans or proposals relating to the foregoing.
 
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
 
(a) – (b)                          The responses of the Reporting Persons to Rows (7) through (13) of the cover pages of this Statement on Schedule 13D are incorporated herein by reference.  As of the date of this Statement the Reporting Persons beneficially own an aggregate of 6,399,428 shares of Common Stock, which shares of Common Stock may be deemed to be beneficially owned by each of the Manager, Manager GP, and Mr. Robbins, and which represent approximately 5.6% of the outstanding shares of Common Stock.  All percentages set forth in this paragraph are based on 115,166,753 shares of Common Stock (including restricted shares) outstanding as of March 31, 2013, as set forth in the Condensed Consolidated Balance Sheets of Exhibit 99.1 to the Company's Form 6-K, filed by the Company on May 1, 2013, for the month of May 2013.
 
For purposes of disclosing the number of shares beneficially owned by each of the Reporting Persons, Manager, Manager GP and Mr. Robbins may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) all shares of Common Stock that are owned beneficially and directly by the Reporting Persons.  Each of Manager, Manager GP and Mr. Robbins disclaims beneficial ownership of such shares for all other purposes.
 
(c)            Except as set forth above or in the attached Schedule I, no Reporting Person has effected any transaction in shares of Common Stock during the sixty (60) days preceding the date of this Statement.
 
(d)            Not applicable.
 
(e)            Not applicable.
6

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
 
Except as set forth herein, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 or between such persons and any other person with respect to the Common Stock.
 
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

Agreement as to Joint Filing of Schedule 13D, dated July 5, 2013, by and among Manager, Manager GP and Mr. Robbins.
7

SIGNATURES
 
After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
Dated: July 5, 2013

 
BLUE HARBOUR GROUP, LP
 
 
  By:  Blue Harbour Holdings, LLC, its general partner
 
 
 
By:
/s/ Clifton S. Robbins
 
Name:
Clifton S. Robbins
 
Title:
Managing Member
 
 
BLUE HARBOUR HOLDINGS, LLC
 
 
By:
/s/ Clifton S. Robbins
 
Name:
Clifton S. Robbins
 
Title:
Managing Member
 
 
 
/s/ Clifton S. Robbins
 
Clifton S. Robbins
8

Schedule I
 
Transactions in Shares of Common Stock by Reporting Persons

Reporting Person
Date
Transaction
 
Number of
Shares of
Common Stock
   
Price Per Share*
 
Manager
5/31/2013
Purchase
   
35,650
   
$
23.13
 
Manager
6/3/2013
Purchase
   
164,350
   
$
22.77
 
Manager
6/24/2013
Purchase
   
10,450
   
$
20.59
 
Manager
6/27/2013
Purchase
   
549,100
   
$
20.80
 
Manager
6/28/2013
Purchase
     
4,600
     
$
21.18
 
Manager 7/5/2013
Purchase
    104,300     $ 21.22  

* Shares of Common Stock were sold or purchased (as applicable) over the day, and the aggregate amount and average price (excluding brokerage commissions) are indicated.
 
 

EX-1 2 ex1.htm EXHIBIT 1

Exhibit 1
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13D

Dated July 5, 2013

The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements.  The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that it knows or has reason to believe that such information is inaccurate.

This Agreement may be executed in counterparts and each of such counterparts taken together shall constitute one and the same instrument.
 
 
BLUE HARBOUR GROUP, LP
 
 
  By:  Blue Harbour Holdings, LLC, its general partner
 
 
 
By:
/s/ Clifton S. Robbins
 
Name:
Clifton S. Robbins
 
Title:
Managing Member
 
 
BLUE HARBOUR HOLDINGS, LLC
 
 
By:
/s/ Clifton S. Robbins
 
Name:
Clifton S. Robbins
 
Title:
Managing Member
 
 
 
/s/ Clifton S. Robbins
 
Clifton S. Robbins