Waste Management nears $7 billion deal to buy Stericycle
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Waste Management is close to finalizing a purchase agreement with Stericycle, a medical waste disposal company, for approximately $7 billion, which includes debt.
According to the Wall Street Journal, the acquisition of Stericycle, based in Bannockburn, Illinois, with over $1 billion in debt, may be announced as early as Monday, as stated by sources familiar with the matter.
Last month, Bloomberg revealed that Stericycle was considering a sale following takeover inquiries, leading to a more than 13% increase in its shares.
Also read: The world is ‘losing the battle’ against electronic waste: UN says
Stericycle specializes in assisting local clinics, surgery centres, and hospitals to dispose of their biohazardous and pharmaceutical waste.
Meanwhile, Waste Management, headquartered in Houston, Texas, is a leading provider of trash and recycling collection services in the United States.
Many waste management and disposal companies are exploring better ways to efficiently and actively reduce the waste that is piling up worldwide.
Schneider Electric is one such firm that decided to support India’s Namami Gange initiative by implementing sustainable automation at Delhi’s largest single-stage wastewater treatment plant.
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