Houston-based Waste Management, Inc., North America’s largest environmental solutions company, just announced that it will buy Ponte Vedra, Fla.-based Advanced Disposal Services for a total of $4.9 billion.
Under the agreement, a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in cash, representing a total enterprise value of $4.9 billion when including approximately $1.9 billion of Advanced Disposal’s net debt. The per share price represents a premium of 22.1 percent to Advanced Disposal’s closing share price as of April 12, the last trading day prior to the April 15 announcement and a premium of 20.9 percent to Advanced Disposal’s 30-day volume weighted average price as of the same date.
