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Waste Management (NYSE:WM) is nearing a deal to buy Stericycle (SRCL) for ~$7B including debt, with an announcement coming as soon as tomorrow, The Wall Street Journal reported late Sunday.
Waste Management (WM) believes an acquisition of Stericycle (SRCL) would complement its operations and give it a deeper foothold in the medical waste disposal sector, according to the report.
Stericycle (SRCL) shares closed Friday at $51.54, giving the company a market value of ~$4.8B; its stock surged by ~15% when Bloomberg reported recently that the company had received unspecified takeover interest.
