Advanced Disposal Services is one step closer to completing its sale to Waste Management. Nearly 86% of shareholders approved the deal to sell at $33.15 per share at a special meeting in Ponte Vedra, Florida on Friday.
Ahead of the vote, Advanced also addressed three putative class action lawsuits alleging it had misled investors with insufficient information, allowed the company to be undervalued and limited the potential for higher offers, among other claims. The various suits sought to delay the vote or prohibit the deal.
By Cole Rosengren, Waste Dive