U.S. garbage deal is non-toxic bet on growth LJucca
Waste Management said on April 15 it would acquire all outstanding shares of smaller U.S. peer Advanced Disposal Services for $33.15 per share in cash, a premium of 22.1 percent on Advanced Disposal’s closing share price on April 12.
The offer represents an enterprise value of $4.9 billion for Advanced Disposal, including $1.9 billion of debt. U.S. sector leader Waste Management, worth $43 billion in market capitalisation, said it expected the deal to generate annual cost and capital-expenditure synergies of more than $100 million.China in December extended a ban on imported waste that includes plastic, paper and scrap steel.
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