WM will buy Illinois-based waste-disposal company Stericycle in a deal valued at about $7.2 billion, the companies announced. Under the agreement, WM will acquire all outstanding shares of Stericycle for $62 per share in cash. This represents the deal鈥檚 total value when including Stericycle鈥檚 net debt of around $1.4 billion.
The per-share price also represents a 24% premium to Stericycle鈥檚 60-day volume-weighted average price as of May 23 鈥� the last trading day before Bloomberg reported that Stericycle was considering a potential sale after receiving takeover interest.
The companies said the deal was unanimously approved by their boards of directors and is expected to close as early as the fourth quarter of 2024. The announcement comes one day after The Wall Street Journal reported that WM was nearing a deal to buy Stericycle.