Waste management approaches $ 2.9 billion for advanced disposal

Waste Management Inc. is approaching about $ 2.9 billion deal to buy its less competitive Advanced Disposal Services Inc., according to people familiar with the case, in what would be the biggest acquisition in its history.

Waste management would pay $ 33.15 a share in cash for advanced disposal, the people said. The deal, which could be announced on Monday, represents a 22.1% premium to Advanced Disposal's trading prize on Friday's close and will rank as one of the largest companies with solid waste companies for more than a decade.