Shares of Stericycle, Inc. (SRCL), a provider of regulated waste and compliance services, surged over 15% in pre-market trading on Monday, reaching $59.65. This rise follows the company's announcement of its acquisition by Waste Management, Inc. (WM). The transaction, valued at approximately $7.2 billion—including around $1.4 billion in debt—will be settled in cash.
The acquisition price of $62.00 per share marks a 24% premium over Stericycle's 60-day volume-weighted average price as of May 23, 2024, the last trading day before speculation about a possible sale emerged.
On Friday, Stericycle shares closed at $51.57, reflecting a 4.60% increase. Over the past year, the stock has fluctuated between $37.78 and $57.06.
