Waste Management said it offered $62 per share, which represents an equity value of $5.75-billion for Stericycle and an about 20% premium to the stock’s Friday close
in a deal valued at $7.2-billion, as it looks to tap into the growing healthcare waste disposal market in the United States.
Stericycle helps local clinics, surgery centers and hospitals dispose of their biohazardous and pharmaceutical waste. The deal is also expected to be accretive to WM’s earnings and cash flows within one year of its close.
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