From CNBC: 2024-06-03 08:11:22

Waste Management is set to acquire Stericycle in a $7.2 billion deal, purchasing all outstanding shares at $62 each in cash, with the total value including Stericycle’s net debt. The deal represents a 24% premium to Stericycle’s average price, expected to close in Q4 of 2024.

The acquisition was unanimously approved by the boards of both companies and is set to be finalized later this year. Following the news, Stericycle’s shares surged over 16% in premarket trading, while Waste Management’s shares saw a slight decrease of nearly 2%.

This deal comes after reports emerged that Stericycle was considering a potential sale, prompting interest from other parties. Waste Management’s move to acquire Stericycle will further solidify its position in the waste-disposal industry and expand its market presence.

Read more: Waste Management to acquire Stericycle in $7.2 billion deal