The Raleigh-based trash hauler, which first sold stock publicly in June 1997, became a private company again after shareholders on Thursday approved a management-led buyout.

The deal, which gave shareholders $38 a share, was worth about $544 million. The transaction was orchestrated by company founder and chairman Lonnie C. Poole Jr. and CEO Jim W. Perry and a group of investors.

The stock was expected to be delisted from the Nasdaq today.

Poole, Perry and other Waste Industries officials wanted to escape the demands and costs associated with being a publicly traded company, said Christopher Bamman, an analyst with Morgan Joseph in New York.

Even with the change in ownership, there's no reason to think the company won't be successful, he added. Waste Industries has said there aren't job cuts or other major changes planned.

The company still faces challenges, including soaring prices for the diesel used to fuel its fleet of trucks in six southeastern states, and a slowing economy that could dent demand for trash services and landfills.

"They've come out of the public scrutiny, but there probably won't be much change in the way they run the business day to day," Bamman said. "Garbage still needs to be picked up."