Overview
- Boards of both companies unanimously approved the all-cash deal, which targets a mid-2026 close subject to shareholder and regulatory approvals.
- Enviri plans to use proceeds to retire about $1.35 billion of debt, with the board to finalize a shareholder cash payout expected at $14.50 to $16.50 per share.
- At closing, Enviri intends to spin off Harsco Environmental and Rail into New Enviri, distributing 0.33 New Enviri shares per Enviri share with roughly 28 million shares expected outstanding.
- Veolia projects about $120 million in cost benefits by year four after closing, expects earnings-per-share growth from year two, and has raised its 2024–2027 hazardous-waste EBITDA growth target to at least 10%.
- The acquisition would lift Veolia’s hazardous-waste revenue to roughly €5.2 billion, while Enviri says CEO Nicholas Grasberger will step down with Russell Hochman named as successor.