April 14 (Reuters) - Waste Management Inc is inching closer to acquire smaller rival Advanced Disposal Services Inc for about $2.9 billion in cash, the Wall Street Journal reported on.wsj.com/2UVrdbL on Sunday, citing people familiar with the matter.
Waste Management would pay $33.15 per share in cash, representing a premium of 22.1 percent to Advanced Disposal’s closing price on Friday, the Journal reported.
Both companies did not respond to Reuters’ request for comment outside regular business hours. (Reporting by Ishita Chigilli Palli in Bengaluru, Editing by Sherry Jacob-Phillips)
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