UPDATE: Wunderlich Securities Reiterates Buy, Raises PT to $6.50 on WCA Waste

Wunderlich Securities maintains its Buy rating on WCA Waste WCAA as the company announced agreement to be acquired at 8.1x FY12 Estimated EBITDA. Wunderlich Securities says, "On December 21, WCAA announced it is being acquired by Macquarie Infrastructure Partners for $6.50 per share (a 32% premium to the last close) in cash plus retiring all preferred stock. Consensus estimates for FY12 EBITDA is $65mm. This implies an 8.1x EV/EBITDA multiple compared to the peer group EV/EBITDA of 7.0x. The transaction is expected to close in 1Q12. If WCAA accepts an alternate offer, the termination fee is $11mm. Under certain circumstances, Macquarie could collect a termination fee of $16.5mm." WCAA closed at $4.91 a share on Wednesday.