Waste Management, Inc. announced that they have entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for $62 per share in cash, representing a total enterprise value of approximately $7.2 billion when including approximately $1.4 billion of Stericycle’s net debt. The per share price represents a premium of 24 percent to Stericycle’s 60 day volume weighted average price as of May 23, 2024, which was the last trading day before an article reported that Stericycle was considering a potential sale.
Stericycle is a premier provider of regulated medical waste and compliance services as well as secure information destruction services.
“At WM, we are committed to maximizing value for all our stakeholders by providing a comprehensive suite of environmental solutions to the market. The acquisition of Stericycle is a significant step in advancing this commitment because it broadens the scope of our service offerings, bringing together the leader in solid waste and a premier company in regulated medical waste services,” said Jim Fish, president and chief executive officer of WM.