WM yet to reach divestiture deal needed for Advanced acquisition, CTFN says

CTFN’s Diane Alter reports that Waste Management (WM) and Advanced Disposal (ADSW) are yet to reach definitive agreement on a divestiture package needed to complete their pending merger. Canada’s GFL remains the leading potential divestiture buyer, but sources tells CTFN that GFL and Waste Management have differed over the price of the package. Alter reported on May 14 that Waste Management appeared close to an agreement with the primary buyer of a divestiture package in order to complete its pending acquisition of Advanced Disposal. On April 14, 2019, Advanced Disposal entered into a merger agreement with Waste Management whereby an indirect subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in cash. Shares of Advanced Disposal are off their lows but remain down 1.5% to $31.46 in afternoon trading. For more on the story, which is available exclusively to CTFN subscribers, request a trial here. (https://ctfn.news/subscribe/)