SEATTLE (Recycling Monster): WM’s planned acquisition of Stericycle passed an important milestone, after it cleared antitrust review by the U.S. Department of Justice (DOJ) and Federal Trade Commission. The deal will still undergo the regulatory approval process with the DOJ.

According to securities filing, the company had refiled in early August, after voluntarily withdrawing its previous application for review. The company stated that the 30-day window for filing an antitrust lawsuit has now passed.

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According to reports, antitrust authorities in Portugal and the UK have approved the deal. Clearances are still pending in Spain and Canada, though. It is anticipated that the deal would finalize in Q4 of this year, at which point WM will own all of Stericycle.

It should be mentioned that majority of Stericycle’s shareholders had voted to approve the transaction in mid-August this year. The company had been in talks with WM as early as 2019. The talks of a potential transaction between the two companies had gained momentum last August.

The transaction provides WM with the important opportunity to break into the medical waste market, which is projected to witness significant growth over the coming years, due to rise in aging populations.