Waste Management completes $4.6B acquisition of Advanced Disposal, following regulatory approval; Top waste companies report further recovery in Q3, but ongoing pandemic effects; Waste Connections Q3: Pandemic recovery plateauing, $500M ESG plan launched
The company's stock has consistently underperformed, depsite the strategic value of its assets. All options are said to be on the table, including selling assets or exiting lines of business, under new CEO Michael Ranger.
The news caps off a more than 18-month process, with substantially more divestitures than originally planned. The sale to GFL Environmental of divested assets in 10 states is now complete.
The second full quarter to reflect the pandemic's effects showed ongoing volume recovery among multiple categories, but a possible plateau. Catch up on results from Casella Waste Systems, Covanta and Waste Connections.
Business is still rebounding from shutdown levels, and M&A activity continues across North America, but unknowns also remain ahead of the election and a rising coronavirus caseload.
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