Stericycle Inc. is considering a potential sale after receiving takeover interest, people with knowledge of the matter said.
The Bannockburn, Illinois-based medical waste disposal company is working with a financial adviser as it weighs options, according to the people, who asked not to be identified discussing confidential information.
Stericycle’s stock rose as much as 21% on Friday for the biggest intraday gain in more than four years. The shares were up 14% at 3:30 p.m. in New York, giving the company a market value of about $4.7 billion.
The company could attract other medical waste management providers, as well as infrastructure funds, the people said.
Deliberations are ongoing and Stericycle could decide against pursuing a sale, the people said. A representative for Stericycle didn’t immediately provide comment.
Stericycle works to remove sensitive and hazardous waste material from hospitals, care centers and veterinary clinics across the US, according to its website. It also provides services to air and seaports, funeral homes and governments and the military, among others.
First quarter revenue at Stericycle fell 2.8% year-on-year to $664.9 million, figures for the period show. The company said the slip was primarily due to divestitures.
https://finance.yahoo.com/news/waste-disposal-firm-stericycle-exploring-191023256.html
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.