Waste Management on Monday announced plans to acquire smaller rival Advanced Disposal Services for about $3 billion in cash.
Waste Management would pay $33.15 per share in cash for Advanced Disposal. The deal is worth about $4.9 billion, including debt.
The deal would represent a premium of 22.14% to Advanced Disposal's closing price of $27.14 on Friday. Houston-based Waste Management, through its subsidiaries, provides waste management environmental services; and as of December 2016, it owned or operated 243 solid waste landfills and five secure hazardous waste landfills.
If the deal stands, it would rank as one of the biggest solid-waste company acquisitions in more than a decade. Advanced Disposal, based in Ponte Vedra, Florida, provides non-hazardous solid waste collection, transfer, recycling, and disposal services in 16 states and the Bahamas.
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