At Extreme Investor Network, we bring you the latest news and updates in the world of finance to help you make informed investment decisions. Today, we are excited to share with you a major acquisition in the waste management industry that has grabbed the headlines.
Waste Management, a leading waste disposal company, has announced its plans to acquire Illinois-based waste-disposal company Stericycle in a deal valued at approximately $7.2 billion. This strategic move will see Waste Management take over all outstanding shares of Stericycle for $62 per share in cash, with the total deal value including Stericycle’s net debt of around $1.4 billion.
Notably, the per-share price offered represents a 24% premium to Stericycle’s 60-day volume-weighted average price as of May 23, signaling a lucrative deal for Stericycle shareholders. The acquisition has been unanimously approved by the boards of both companies and is slated to close as early as the fourth quarter of 2024.
Following the announcement of the acquisition, shares of Stericycle surged by 14.6% during Monday’s trading session, reaching a new 52-week high. On the other hand, shares of Waste Management experienced a slight dip of approximately 4.5%.
This high-profile acquisition comes hot on the heels of reports from The Wall Street Journal suggesting that Waste Management was in advanced talks to acquire Stericycle. The deal cements Waste Management’s position as a dominant player in the waste management industry and presents exciting opportunities for both companies moving forward.
Stay tuned to Extreme Investor Network for more updates on market-moving acquisitions and investment opportunities. Our expert analysis and insights will help you stay ahead of the curve and make smart investment decisions. Subscribe to our newsletter and join our network of extreme investors today!