Waste Management To Acquire Stericycle For $62.00/Share In Cash, At 20% Premium
Waste Management To Acquire Stericycle For $62.00/Share In Cash, At 20% Premium
Stericycle, Inc. (NASDAQ:SRCL) shares are trading higher after the company inked a deal to be acquired by Waste Management Inc. (NYSE:WM) for approximately $7.2 billion, including debt.
消毒循环公司（纳斯达克：SRCL）的股份因公司与废物管理公司（纽交所：WM）签署了价值约72亿美元的收购协议而上涨，包括债务。
Stericycle focuses on the collection and disposal of hazardous medical waste and also operates a document shredding service known as Shred-It.
Stericycle专注于收集和处理危险的医疗废物，还经营一项名为Shred-It的文件碎纸服务。
As per the terms, the per-share cash acquisition price is $62.00, which represents a premium of 24% to Stericycle's 60-day volume-weighted average price as of May 23, 2024 (the last trading day before an article reported that Stericycle was considering a potential sale). The acquisition price represents a premium of 20% to SRCL's previous closing price of $51.54.
按照协议的规定，每股现金收购价格为62.00美元，相当于2024年5月23日（报道消毒循环公司正在考虑潜在出售时）的成交量加权平均价格的溢价24％ 。 收购价格比SRCL之前的收盘价51.54美元高20％。
The deal is unanimously approved by the boards of directors of both companies and is expected to close as early as the fourth quarter of 2024, subject to customary closing conditions.
交易已得到两家公司董事会一致批准，并有望在2024年第四季度早期闭幕，但需符合惯常的交易完成条件。
Jim Fish, President and Chief Executive Officer of Waste Management, said, "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."
废物管理公司首席执行官Jim Fish表示：“收购消毒循环公司是我们履行承诺的重要一步，因为它扩大了我们服务的范围，将固体废物领域领导者和规管医疗废物服务中的首要公司聚集在一起。
Financial Benefits: Waste Management expects the deal to generate annual run-rate synergies of over $125 million and be accretive to earnings and cash flows within one year of closing.
财务利益：废物管理公司预计本次交易将带来每年超过1.25亿美元的协同效益，并在交易结束后一年内增强收益和现金流。
In the near term, post-buyout completion, Waste Management expects to achieve a net debt-to-EBITDA ratio of approximately 3.4x and a leverage ratio within its targeted net debt-to-EBITDA range of 2.75x to 3.0x approximately 18 months after closing the transaction.
在完成收购之后不久，废物管理公司预计将实现净债务对EBITDA比率约为3.4倍，并在结束交易约18个月后在其目标净债务对EBITDA范围2.75倍至3.0倍内的杠杆率。
Both companies remain confident in the strength of their businesses and expect to achieve previously announced full-year guidance, excluding the impacts of any transaction-related costs.
两家公司都对其业务的强劲表现充满信心，并预计将实现之前发布的全年预测（不包括与交易相关的成本影响）。
Waste Management intends to finance the transaction using a combination of bank debt and senior notes. As of March-end, WM's cash and equivalents stood at $322 million.
废物管理公司打算使用银行债务和优先票据来为本次交易融资。 截至3月底，废物管理公司的现金及现金等价物为3.22亿美元。
Waste Management stock has gained more than 25% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Utilities ETF (NYSE:IDU) and TCW Transform Systems ETF (NYSE:NETZ).
废物管理公司股票在过去12个月中上涨了25％以上。 投资者可以通过iShares U.S. Utilities ETF（纽交所：IDU）和TCW Transform Systems ETF（纽交所：NETZ）获得该股票的曝光度。
Also Read: Waste Management Mulls $3B Sale Of RNG Business: Report
另请阅读：废物管理公司正在考虑出售30亿美元的RNG业务：报告
Price Action: SRCL shares are up 15% at $59.27 at the last check Monday.
价格走势：截至周一最后一次检查，SRCL股份上涨15％，至59.27美元。
Photo via Shutterstock
图片来自shutterstock。