WM delays ADS acquisition due to COVID-19 concerns
On March 18, WM filed a notice with the Securities and Exchange Commission (SEC) to update the acquisition's projected timing. Originally scheduled to close in March, the company now anticipates closing the acquisition in late Q2.
The update comes shortly after WM President and CEO Jim Fish reported the transaction to close on time during a Feb. 13 earnings call with investors.
“We anticipate that we will obtain antitrust regulatory approval by the end of March and close soon thereafter,” he said. “Our integration team has been working hard preparing for this close, and the team is positioned to move quickly to integrate ADS operations and to achieve our targeted synergies.”
Waste Pro acquires customers, landfill from RES
Waste Pro of Mississippi began servicing 700 customers previously serviced by RES effective March 1.
The arrangement includes the lease of RES’ 6,000-square-foot facility in Cleveland, Mississippi, which will become a satellite facility of Waste Pro’s Greenwood Division. The office will be home to 33 employees who are joining Waste Pro, in addition to rear-load, front-load and roll-off garbage trucks that are part of the acquisition.
In addition to providing new service to residents of 13 municipalities in the Cleveland area, Waste Pro will assume operations of RES’ C&D and Class I waste landfill located in Ruleville, Mississippi.
“We’re excited to come together with a company that is aligned with our core values of caring for our environment and providing excellent service,” Roland Joyner, vice president of Waste Pro’s southern region, says. “RES has built a reputation for excellent service in the Mississippi Delta, and we look forward to continuing that.”