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Saul Loeb | AFP | Getty Images
Workers sort out recycling materials at the Waste Management Materials Recovery Facility in Elkridge, Maryland, June 28, 2018.
Waste Management announced Monday its intention to acquire rival services Advanced Disposal Services, smaller, for an amount of about 3 billion USD.
Waste Management would pay $ 33.15 per share in cash for advanced disposal. The agreement represents about $ 4.9 billion, including debt.
The transaction would represent a premium of 22.14% over Advanced Disposal's closing price of $ 27.14 on Friday.
Waste Management, based in Houston, through its subsidiaries, provides environmental waste management services; and since December 2016, it owned or operated 243 solid waste landfills and five hazardous waste landfills.
If the agreement is reached, it would be one of the largest solid waste business acquisitions in more than a decade.
Advanced Disposal, based in Ponte Vedra, Florida, provides non-hazardous solid waste collection, transfer, recycling and disposal services in 16 states and the Bahamas.
The Wall Street Journal reported Sunday for the first time this agreement, citing people close to the file.
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