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(Reuters) – Waste Management Inc. is preparing to acquire the smallest rival, Advanced Disposal Services Inc., for about $ 2.9 billion in cash, the Wall Street Journal reported Sunday quoting people close to the case.
Waste Management would pay $ 33.15 per share in cash, which would represent a 22.1% premium to Advanced Disposal's closing price on Friday, the newspaper reported.
The two companies did not respond to Reuters' request for comment outside of normal business hours.
Report by Ishita Chigilli Palli in Bengaluru, edited by Sherry Jacob-Phillips
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