Brief: WM To Acquire Stericycle In $7.2 Bln Deal

Waste Management

03/06/2024 13:28

June 3 (Reuters) - Waste Management and Stericycle:
    * WM TO ACQUIRE STERICYCLE, A LEADER IN MEDICAL WASTE
SERVICES,
FOR $7.2 BILLION
    * STERICYCLE INC: PROPOSED DEAL FOR $62.00 PER SHARE
    * STERICYCLE INC: DEAL EXPECTED TO BE ACCRETIVE TO WM'S
EARNINGS
AND CASH FLOW WITHIN ONE YEAR OF CLOSE
    * STERICYCLE INC: SYNERGY REALIZATION EXPECTED TO RESULT IN
A
POST-SYNERGY TRANSACTION MULTIPLE WELL BELOW WM'S CURRENT
TRADING MULTIPLE
    * STERICYCLE INC: WM INTENDS TO FINANCE TRANSACTION USING A
COMBINATION OF BANK DEBT AND SENIOR NOTES
    * STERICYCLE INC: TRANSACTION IS NOT SUBJECT TO A FINANCING
CONDITION
    * STERICYCLE INC: PROPOSED DEAL EXPECTED TO CLOSE AS EARLY
AS Q4
OF 2024
    * STERICYCLE INC: WM EXPECTS TRANSACTION TO GENERATE MORE
THAN
$125 MILLION IN ANNUAL RUN-RATE SYNERGIES
    * STERICYCLE INC: WM EXPECTS TO TEMPORARILY SUSPEND SHARE
REPURCHASES

Source text for Eikon:  ID:nBw3rdG8sa 
Further company coverage:  SRCL.O 

 ((Reuters.Briefs@thomsonreuters.com;))