Waste Management falls after $7.2 bln deal to buy Stericycle

Stericycle

03/06/2024 15:01

(Updates)
    ** Shares of Waste Management  WM.N  fall 2.1% to $206.30
    ** Co to buy medical waste disposal company Stericycle
 SRCL.O  for $7.20 bln
    ** WM to offer $62 per share in cash, which represents 20.3%
premium to SRCL's closing price on Friday
    ** Deal expected to close in Q4 2024
    ** SRCL shares jump 15.2% to more than a two-year high of
$59.30
    ** YTD, WM stock is up 15.2%, while SRCL has gained 19.8%

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))