Waste Connections to buy Progressive Waste for $2.67B

By Kristin Musulin, Waste Dive. 

  • Texas-based Waste Connections announced Tuesday that it will purchase Canada's Progressive Waste Solutions for $2.67 billion as a way to expand throughout Canada.
  • The companies will merge in an all-stock deal. Waste Connections shareholders will own about 70% of the company, while Progressive Waste shareholders will own about 30%. 
  • The merged company will have a pro-forma revenue of about $4.1 billion, as reported by Seeking Alpha, and will be domiciled in Canada after the deal closes in this year's second quarter.