Stericycle Jumps In Pre-market On News Of Acquisition By Waste Management

(RTTNews) - Shares of Stericycle, Inc. (SRCL), a provider of regulated waste and compliance services, were rising more than 15 percent in pre-market on Monday to $59.65, after the company announced its decision to be acquired by Waste Management, Inc. (WM) in a transaction valued about $7.2 billion, including nearly $1.4 billion debt, to be paid in cash.

The purchase price of $62.00 per share represents a premium of 24 percent to Stericycle's 60-day volume weighted average price as of May 23, 2024, the last trading day before an article reported that Stericycle was considering a potential sale.

Stericycle shares had closed at $51.57, up 4.60 percent on Friday. The stock has traded in the range of $37.78 - $57.06 in the last 1 year.