WM - Waste Management To Acquire Stericycle For $62.00/Share In Cash At 20% Premium | Benzinga
Stericycle, Inc. (NASDAQ:SRCL) shares are trading higher after the company inked a deal to be acquired by Waste Management Inc. (NYSE:WM) for approximately $7.2 billion, including debt.
Stericycle focuses on the collection and disposal of hazardous medical waste and also operates a document shredding service known as Shred-It.
As per the terms, the per-share cash acquisition price is $62.00, which represents a premium of 24% to Stericycle’s 60-day volume-weighted average price as of May 23, 2024 (the last trading day before an article reported that Stericycle was considering a potential sale). The acquisition price represents a premium of 20% to SRCL’s previous closing price of $51.54.
The deal is ...