Waste Management (WM) and Stericycle announced that they had reached a definitive agreement on Monday. Houston, Texas-based WM will acquire Bannockburn, Illinois-based Stericycle (SRCL) for $62 per share. The total enterprise value is expected to be $7.2 billion, including Stericycle’s net debt of roughly $1.4 billion. The acquisition by WM will broaden its service offerings. Stericycle shares rose by 15 percent, while WM shares fell by over 2 percent after the announcement.
WM is offering Stericycle shareholders a 24 percent premium according to its 60-day volume weighted average price on May 23. The companies also said that their boards of directors approved the deal, which is expected to close by the last quarter of this year.
The announcement described WM as a leader in solid waste management, while Stericycle was a premium company that dealt with regulated medical waste services. It said the acquisition would lead to added environmental and financial benefits and better customer service. CWEB reports that there is synergy in the operations between the companies, and a merger will benefit customers and investors.
Jim Fish, President and CEO of WM said that the company had a proven record of “integrating and optimizing acquired businesses” and that customers and employees would help shareholders get a better return on their investments.
Cindy J Miller, President and CEO of Stericycle, said the company’s “knowledge and expertise in regulated medical waste and secure information destruction” would benefit WM’s wide portfolio of environmental solutions.
CWEB thinks that solid or medical waste needs to be recycled or destroyed in an environmentally friendly manner for the world to become safer and healthier. All types of waste seem to be piling up all over the world. It must be recycled and disposed of securely for current and future generations.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins, and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X Men|Women
