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Waste Management (WM) to Purchase Stericycle for $7.2 Billion

Zacks Equity Research
·2 分鐘文章

Waste Management, Inc. WM has had an impressive run over the past year. The stock has gained 24%, outperforming the 20.9% rally of the industry it belongs to.

The company is set to acquire the leading provider of regulated medical waste and compliance services, Stericycle SRCL, in a deal anticipated to be completed as early as the fourth quarter of 2024.

Waste Management, Inc. Price

Waste Management, Inc. Price
Waste Management, Inc. Price

Waste Management, Inc. price | Waste Management, Inc. Quote

This transaction represents one of the largest acquisitions in the waste management space and will reinforce WM's position as one of the largest waste collectors in the United States. The company has acquired several other disposal firms in recent years, including Advanced Disposal and Anderson Rubbish Disposal.

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Waste Management will purchase all outstanding shares of Stericycle for $62.00 per share in cash, valuing the deal at around $7.2 billion, including around $1.4 billion in debt.

The addition of Stericycle will expand WM’s environmental service offerings. WM expects the acquisition to be accretive to its earnings and cash flows within one year of closing and generate more than $125 million in annual run-rate synergies.

Commenting on the acquisition, Jim Fish, president and chief executive officer of WM, said, "We have a proven track record of integrating and optimizing acquired businesses that benefit our customers and employees and deliver a strong return on investment for our shareholders. We look forward to working with the Stericycle team to capture the strategic, customer service, environmental, and financial benefits of this acquisition."

Zacks Rank & Stocks to Consider

Waste Management currently carries a Zacks Rank #3 (Hold).

A couple of better-ranked stocks from the broader Zacks Business Services sector are Deluxe DLX and Marvell Technology MRVL.

Deluxe currently carries a Zacks Rank of 2 (Buy). It has a long-term earnings growth expectation of 12%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DLX delivered a trailing four-quarter earnings surprise of 23.3%, on average.

Marvell Technology presently carries a Zacks Rank of 2. It has a long-term earnings growth expectation of 27.3%.

MRVL delivered a trailing four-quarter earnings surprise of 2.5%, on average.

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Stericycle, Inc. (SRCL) : Free Stock Analysis Report

Waste Management, Inc. (WM) : Free Stock Analysis Report

Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report

Deluxe Corporation (DLX) : Free Stock Analysis Report

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Zacks Investment Research