Stericycle to be acquired by Waste Management in a $7.2 billion deal.

• On Monday, it was announced that Stericycle will be acquired by Waste Management in a $7.2 billion deal.
• Stericycle will be acquired by WM for $62 per share in cash, resulting in a total deal value of approximately $1.4 billion when considering Stericycle's net debt.
• The deal is anticipated to be completed by the end of 2024's fourth quarter.

The Illinois-based waste-disposal company will be acquired in a $7.2 billion deal, as announced Monday.

Under the agreement, WM will acquire all outstanding shares of Stericycle for $62 per share in cash, resulting in a total deal value of approximately $1.4 billion when including Stericycle's net debt.

The price of the shares represents a 24% premium to Stericycle's 60-day volume-weighted average price as of May 23, the day before Bloomberg reported that Stericycle was considering a potential sale after receiving takeover interest.

The deal was approved unanimously by the boards of directors of the companies and is expected to close in the fourth quarter of 2024.

After the announcement, Stericycle's premarket shares increased by more than 16%, while WM's shares decreased by nearly 2%.

One day after The Wall Street Journal reported that WM was close to a deal to purchase Stericycle, an announcement was made.