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US: Waste Management buys Advanced Disposal For $3B

By  |  April 17, 2019

Waste Management, reached an agreement to acquire solid waste company Advanced Disposal Services for US$2.9 billion.

As part of the merger agreement, a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for US$33.15 per share in cash. The price tag on the deal implies a 22.1% premium to Advanced Disposal’s closing Friday, April 12, price and a premium of 20.9% to its 30-day volume weighted average price.

Waste Management plans on financing the deal through a combination of bank debt and senior notes. Exiting the deal, the company expects to maintain a solid investment grade credit profile. The deal represents a total enterprise value of US$4.9 billion when including about US$1.9 billion of Advanced Disposal’s net debt.

Full Content: Benzinga

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