Finance
Waste Management to acquire Stericycle in a $7.2 billion deal
An employee cleans his company vehicle at the Waste Management facility in Austin, Texas, on February 12, 2024.
Brandon Bell | Getty Images
Waste management will purchase an Illinois-based waste management company Sterifiets in a deal worth approximately $7.2 billion, the companies announced Monday.
Under the agreement, WM will acquire all outstanding shares of Stericycle for $62 per share in cash. This represents the total value of the deal, including Stericycle’s net debt of approximately $1.4 billion.
The price per share also represents a 24% premium to Stericycle’s 60-day volume-weighted average price on May 23, its last trading day before Bloomberg. reported that Stericycle was considering a possible sale after receiving an acquisition 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.
Following the announcement, shares of Stericycle rose about 15% during Monday’s trading session, while shares of WM fell more than 2%.
The announcement comes one day after The Wall Street Journal reported that WM was nearing a deal to buy Stericycle.
