As expected, the U.S. Department of Justice (DOJ) announced that it is requiring Waste Management to divest assets in order to proceed with its $4.6B acquisition of Advanced Disposal Services (ADSW) that was announced in April.
The Antitrust Division of the U.S. Department of Justice (DOJ) filed a civil suit, along with a proposed settlement, that paves the way for Waste Management (WM) to finally close the deal.
The proposed settlement requires the divestiture of 15 landfills, 37 transfer stations, 29 hauling facilities, over 200 waste collection routes and other assets across 10 states. GFL Environmental is the planned buyer of a package previously valued at $863.5M.
The department said that without the divestiture, the proposed acquisition would substantially lessen competition for small commercial waste collection or municipal solid waste disposal services in more than 50 local markets.