Offers 62.00 usd/share (Il Sole 24 Ore Radiocor) - New York, 03 Jun - The US firm Waste Management said that it has entered into a definitive agreement to acquire all outstanding shares of Stericycle for 62.00 dollars per share in cash, representing a total enterprise value of approximately 7.2 billion dollars when including approximately 1.4 billion of Stericycle's net debt.

Following completion of the transaction, Waste Management expects a net debt-to-EBITDA ratio of approximately 3.4 times.

The company said that it "has a long-standing commitment to a strong balance sheet and solid investment grade credit profile and expects its prudent approach to capital allocation, including a temporary suspension of share repurchases, to position it to achieve a leverage ratio within its targeted net debt-to-EBITDA range of 2.75x to 3.0x approximately 18 months after closing the transaction.".

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(RADIOCOR) 03-06-24 19:00:30 (0592) 5 NNNN