Waste Management to Buy Advanced Disposal for $2.9 Billion (1)

Waste Management Inc. agreed to acquire Advanced Disposal Services Inc. for about $2.9 billion as the U.S. trash collection-and-recycling company looks to expand its network and customer base.

The Houston-based company will pay $33.15 a share in cash, according to a joint statement on April 15. The offer represents a 22 percent premium to Advanced Disposal’s closing price on April 12.

The deal, Waste Management’s second-largest, will enable the company to extend its reach in 16 states, including Minnesota and Tennessee. It is targeting $100 million in annual savings from the purchase, which is valued at $4.9 billion including debt. ...