A PYMNTS Company

US: Waste Management buys Advanced Disposal For $3B

By  |  April 17, 2019

Waste Management, reached an agreement to acquire solid waste company Advanced Disposal Services for US$2.9 billion.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    As part of the merger agreement, a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for US$33.15 per share in cash. The price tag on the deal implies a 22.1% premium to Advanced Disposal’s closing Friday, April 12, price and a premium of 20.9% to its 30-day volume weighted average price.

    Waste Management plans on financing the deal through a combination of bank debt and senior notes. Exiting the deal, the company expects to maintain a solid investment grade credit profile. The deal represents a total enterprise value of US$4.9 billion when including about US$1.9 billion of Advanced Disposal’s net debt.

    Full Content: Benzinga

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.