PHOENIX — Phoenix-based recycling and waste management company Republic Services says it will acquire US Ecology — a publicly traded environmental solutions company based in Boise, Idaho — in a $2.2 billion deal.
Under a definitive agreement approved by the boards of both companies, Republic Services (NYSE: RSG) would acquire all the outstanding shares of US Ecology Inc. (Nasdaq: ECOL) for $48 per share. The total value includes a net debt of about $700 million.
Pending regulatory and stockholder approvals, the acquisition is expected to close by the end of the second quarter.
Republic’s stock rose slightly on the news Wednesday, closing up 69 cents at $127.64. Track the stock here.
Republic said the deal will help it integrate its services and expand its footprint with hard-to-replicate assets, allowing it to become a single-source partner for its customers with more consolidated services.
Read more of this story from the Phoenix Business Journal.