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Waste Management set to buy Advanced Disposal for $2.9 bln

Reuters

April 14 - Waste Management Inc is set to acquire smaller rival Advanced Disposal Services Inc for about $2.9 billion in cash, the Wall Street Journal on Sunday, citing people familiar with the matter (graphic).

Waste Management would pay $33.15 per share in cash for Advanced Disposal, and the deal could be worth about $5 billion, including debt, the Journal reported.

The deal would represent a premium of 22.14 percent to Advanced Disposal's closing price of $27.14 on Friday.

If the deal stands, it would rank as one of the biggest solid-waste company acquisitions in more than a decade, WSJ said, adding that the acquisition details could be announced on Monday.

Advanced Disposal, based in Ponte Vedra, Florida, provides non-hazardous solid waste collection, transfer, recycling and disposal services in 16 states and the Bahamas.

Both companies did not respond to ' request for comments outside regular business hours.


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