An employee cleans his company vehicle at the Waste Management facility on February 12, 2024 in Austin, Texas.
Waste Management will buy Illinois-based waste-disposal company Stericycle in a deal valued at about $7.2 billion, the companies announced Monday.
Under the agreement, WM will acquire all outstanding shares of Stericycle for $62 per share in cash.
Following the announcement, shares of Stericycle rose more than 16% in premarket trading Monday, while shares of WM fell nearly 2%.
The announcement comes one day after The Wall Street Journal reported that WM was nearing a deal to buy Stericycle.
Persons:
Stericycle
Organizations:
Waste Management, WM, Bloomberg, Street Journal
Locations:
Austin , Texas, Illinois, Stericycle