Waste Management nears deal to buy Stericycle for $7 billion, WSJ reports (updated)

Stericycle

03/06/2024 24:10

(Adds details and background)
       June 2 (Reuters) - Waste Management  WM.N  is nearing a
deal to buy medical waste disposal company Stericycle  SRCL.O 
for roughly $7 billion, including debt, the Wall Street Journal
reported on Sunday. 
    The acquisition of Bannockburn, Illinois-based Stericycle
which has more than $1 billion of debt, could be announced as
soon as Monday, the report added, citing people familiar with
the matter.   
    Bloomberg reported last month that Stericycle was exploring
a potential sale after receiving takeover interest, sending its
shares up by more than 13%. 
    Stericycle and Waste Management did not immediately respond
to Reuters' requests for comment on the report. 
    Stericycle helps local clinics, surgery centers and
hospitals dispose their biohazardous and pharmaceutical waste
while Houston, Texas-based Waste Management is one of the
largest U.S. trash and recycling collection companies.  

 (Reporting by Angela Christy in Bengaluru; Editing by Lisa
Shumaker and Lincoln Feast.)
 ((AngelaChristy.M@thomsonreuters.com;))