WM Acquires Stericycle for $7.2 Billion

By Bobby Samwell • Monday, November 04 15:23 • Permanent Link

WM (NYSE: WM) has completed its acquisition of Stericycle, Inc. (NASDAQ: SRCL) for a total enterprise value of approximately $7.2 billion, representing a purchase price of $62.00 per share in cash. Following the acquisition, Stericycle stock will no longer be traded on the NASDAQ.

This strategic move aligns with WM's growth strategy and sustainability initiatives, providing a platform in the medical waste sector and secure information destruction services. WM's President and CEO, Jim Fish, highlighted the acquisition's role in advancing the company's long-term financial goals and enhancing its operating EBITDA and cash flows.

The acquisition is expected to generate projected run-rate cost synergies exceeding $125 million, further strengthening WM's financial outlook. Rafa Carrasco, who led the integration teams and will head the new WM Healthcare Solutions division, emphasized the potential for customer-centric growth and financial benefits, including the protection of health, safety, and well-being in the communities served.

As part of WM, the regulated medical waste and secure information destruction businesses are set to benefit from synergies, including leveraging WM's expertise in logistics, technology-enabled cost optimization, and its leading waste disposal network.

WM's acquisition of Stericycle positions the company to excel in the growing medical waste industry and deliver tailored solutions in secure information destruction, further solidifying its sustainability leadership.

The acquisition reflects WM's commitment to providing comprehensive environmental solutions and collaborating with customers to achieve sustainability goals. With an extensive disposal network and collection fleet in North America, WM is well-positioned to continue leading in recycling, organics, and renewable energy solutions.

The press release did not provide specific metrics or financial data related to the changes since the last period, but it clearly emphasizes the strategic and financial benefits of the acquisition for WM. As a result of these announcements, the company's shares have moved -0.1% on the market, and are now trading at a price of $213.68. Check out the company's full 8-K submission here.

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