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
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.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.
消毒循環公司（納斯達克：SRCL）的股份因公司與廢物管理公司（紐交所：WM）簽署了價值約72億美元的收購協議而上漲，包括債務。
Stericycle focuses on the collection and disposal of hazardous medical waste and also operates a document shredding service known as Shred-It.
Stericycle專注於收集和處理危險的醫療廢物，還經營一項名爲Shred-It的文件碎紙服務。
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.
按照協議的規定，每股現金收購價格爲62.00美元，相當於2024年5月23日（報道消毒循環公司正在考慮潛在出售時）的成交量加權平均價格的溢價24％ 。 收購價格比SRCL之前的收盤價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.
交易已得到兩家公司董事會一致批准，並有望在2024年第四季度早期閉幕，但需符合慣常的交易完成條件。
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."
廢物管理公司總裁兼首席執行官吉姆·菲什表示：“收購消毒循環是實現這一承諾的重要一步，因爲它擴大了我們服務業務的範圍，匯聚了實體廢棄物領域的領導者和受管制的醫療廢物服務的優秀公司。”
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.
財務利益：廢物管理公司預計本次交易將帶來每年超過1.25億美元的協同效益，並在交易結束後一年內增強收益和現金流。
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.
在完成收購之後不久，廢物管理公司預計將實現淨債務對EBITDA比率約爲3.4倍，並在結束交易約18個月後在其目標淨債務對EBITDA範圍2.75倍至3.0倍內的槓桿率。
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.
兩家公司都對其業務的強勁表現充滿信心，並預計將實現之前發佈的全年預測（不包括與交易相關的成本影響）。
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.
廢物管理公司打算使用銀行債務和優先票據來爲本次交易融資。 截至3月底，廢物管理公司的現金及現金等價物爲3.22億美元。
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).
廢物管理公司股票在過去12個月中上漲了25％以上。 投資者可以通過iShares U.S. Utilities ETF（紐交所：IDU）和TCW Transform Systems ETF（紐交所：NETZ）獲得該股票的曝光度。
Also Read: Waste Management Mulls $3B Sale Of RNG Business: Report
另請閱讀：廢物管理公司正在考慮出售30億美元的RNG業務：報告
Price Action: SRCL shares are up 15% at $59.27 at the last check Monday.
價格走勢：截至週一最後一次檢查，SRCL股份上漲15％，至59.27美元。
Photo via Shutterstock
圖片來自shutterstock。
