Medical Waste : WM-Stericycle deal advances
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With WM's purchase of Stericycle, which specialises in medical waste, the US waste management industry is facing a major change. And the two companies are now one step closer to finalizing the deal.
A majority of Stericycle shareholders have approved the sale of the company to WM, marking a significant milestone in the $7.2 billion transaction.
Upon completion of the transaction, expected as early as the fourth quarter of this year, Stericycle shareholders will receive $62 per share and the company will operate as a wholly owned subsidiary of WM. According to insiders, Stericycle had been in talks with WM as early as 2019.
WM views the acquisition as a strategic entry into the growing medical waste market, which is expected to expand in the coming years due to an aging population. WM cited Stericycle's solid financial performance and ongoing efficiency improvements as key factors in pursuing the transaction.
The deal is subject to regulatory approval by the Department of Justice.