WM to Acquire Stericycle, a Leader in Medical Waste Services, for$7.2 Billion

Expanding WM's Comprehensive Environmental results in the Growing Healthcare Market While adding WM's Sustainability Commitment   Provides a  reciprocal business platform in the healthcare  request, a sector with  seductive short- term and long- term growth dynamics.   

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Positioning WM to offer  guests the  occasion to  mate with one service provider with a comprehensive suite of environmental  results   erected on WM's ongoing commitment to help communities thrive by offering  mate  guests a leading and comprehensive service immolation  concentrated on promoting healthy and safe communities   using WM's  moxie in logistics and technology- grounded cost optimization, as well as a leading waste disposal network to  induce projected periodic solidarity of over$ 125 million   

The  consummation of solidarity is anticipated to affect inpost-synergy  sale multiples well below WM's current trading multiples   It's anticipated to increase WM's earnings and cash inflow within one time of closing   Both WM and Stericycle remain confident in the strength of their businesses and anticipate to achieve their  preliminarily  blazoned full- time guidance, banning the impact of  sale- related costs.   

Waste Management,Inc.( NYSE WM) and Stericycle( NASDAQ SRCL)  moment  blazoned that they've entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for$62.00 per share in cash, representing a total enterprise value of  roughly$7.2 billion if including  roughly$1.4 billion of Stericycle net debt. The price per share represents a 24  decoration to Stericycle's 60- day volume-  ladened average price on May 23, 2024, which was the last trading day before an composition reported that Stericycle was considering a implicit  trade.   

Stericycle is a premier provider of regulated medical waste and compliance services as well as secure information destruction services.   “ At WM, we're committed to maximizing value for all our stakeholders by  furnishing a comprehensive suite of environmental  results to the  request. The accession of Stericycle is a significant step in advancing this commitment as it expands the  compass of our service immolations, bringing together a leader in the solid waste space and a leading company in regulated medical waste services," said Jim Fish, President and Chief Executive Officer ofWM. 

“ We've a strong track record proven in integrating and optimizing acquired businesses that  profit our  guests and  workers and  give a strong return on investment for our shareholders. We look forward to working with the Stericycle  platoon to capture the strategic,  client service, environmental and  fiscal benefits of this accession."   

“ Our  uninterrupted focus and commitment to  transubstantiating our business over the  once five times has uniquely  deposited Stericycle in this  sale, which creates significant value for shareholders, opens up new  openings to  give diversified services to  guests, and supports investments in growth and development our company.  platoon members," said CindyJ. Miller, President and Chief Executive Officer of Stericycle. 

“ As  guests seek to manage lesser volumes and  kinds of accoutrements  in a safe, responsible and sustainable manner, Stericycle's knowledge and  moxie in medical waste regulation and secure information destruction is an  instigative addition to WM's  expansive portfolio of environmental  results. We're proud of all we've achieved to shape a healthier and safer world and look forward to our future as part ofWM."   

Seductive Strategic and fiscal Benefits This accession advances WM's growth strategy, underscores the  significance of  enforcing sustainability  enterprise, and aligns with the Company's  fiscal  objects, including growth in  functional EBITDA and cash inflow. Specifically, WM anticipates adding Stericycle to   Expanding WM's  formerly  expansive environmental service immolations. 

The Stericycle accession adds an  seductive medical waste and secure information destruction assiduity- leading  discerned asset platform to WM's suite of environmental  results. Given the growth prospects of healthcare in North America, WM expects the business to  induce  profit growth that outpaces the strong fundamentals of its core solid waste business.   

Continuing its commitment to comprehensive and sustainable waste  results. This accession allows WM to continue its unmatched investment in developing recycling  structure in North America and enhances the environmental value of Stericycle's secure information destruction business.   

Strengthening the foundation for sustainable long- term growth as a comprehensive service provider. This accession will bring together talented and  devoted  workers who are passionate about managing the environmental  requirements of  guests and communities with exceptional service and a commitment to safety. 

Integrating Stericycle into WM adds a top-  league driver in the healthcare and secure information destruction sectors –  paying  guests the option to  mate with one trusted provider known for safety, compliance and environmental stewardship to  break their different waste  operation needs. produce significant solidarity and increase WM's  profit and cash inflow. 

WM estimates this  sale will  induce periodic run- rate solidarity of  further than$ 125 million. These community  openings are driven by WM's logistics  moxie, its track record of using technology to optimize  functional costs and SG&A, and its assiduity- leading network of disposal  means. The accession of Stericycle is anticipated to be  cumulative to WM's earnings and cash inflow within one time of  ending.   

Supports WM capital allocation precedences. WM's strong balance  distance and significant cash inflow generation puts it in a good position to fund accessions. In 2024, WM's operating cash inflow will continue to be directed towards organic growth investments in WM's recycling and renewable energy businesses, capital expenditures to support its  beginning businesses,  tip payments and accessions. 

The accession of Stericycle will enhance WM's cash inflow growth and support its commitment to  adding  shareholder returns. WM  presently expects to achieve targeted  influence and return to normal share repurchase  situations within 18 months of the  ending of the accession.

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