Waste Management near $7 bln deal to buy Stericycle- WSJ

Investing.com– Waste Management Inc (NYSE:) is close to a deal to buy medical waste disposal firm Stericycle Inc (NASDAQ:) for about $7 billion including debt, The Wall Street Journal reported on Sunday.

A deal could be announced as soon as Monday, the report said. 

The report comes just shortly after reports last week said that Stericycle was seeking a potential sale. The report saw the Bannockburn, Illinois-based firm’s shares jump over 13% on Friday. 

Waste Management is one of the largest U.S. garbage collection and recycling companies, with the acquisition of Stericycle giving it exposure to the medical waste industry. Stericycle helps clinics, surgery centers and hospitals dispose of biohazardous and pharmaceutical waste.