Waste Management’s $4.9 Billion Acquisition Of Advanced Disposal

Simpson Thacher is representing Waste Management, Inc. in connection with its agreement under which a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal Services, Inc. for $33.15 per share in cash, representing a total enterprise value of $4.9 billion.

This acquisition will grow Waste Management’s footprint and allow Waste Management to deliver to Advanced Disposal customers unparalleled access to differentiated, sustainable waste management and recycling services. The transaction is expected to close by the first quarter of 2020, subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by a majority of the holders of Advanced Disposal’s outstanding common shares.

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America. Through its subsidiaries, Waste Management provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. Waste Management’s customers include residential, commercial, industrial and municipal customers throughout North America.

The Simpson Thacher team for the transaction includes Alan Klein (Picture), Chris May, Jacqui Bogucki, Nate Bascom and Justin Thekkekara (M&A); Brian Robbins, Jamin Koslowe, Pasco Struhs and Caitlin Grimes (ECEB); Michael Isby (Environmental); Krista McManus and Dennis Loiacono (Real Estate); John Creed, Tyler Robbins and Sergio Torres (Tax); Brian Steinhardt and Jonathan Zane (Banking and Credit); Brian Rosenzweig and Brian Mathes (Capital Markets); Peter Guryan and Joshua Hazan (Antitrust); and Marcela Robledo and Melanie Jolson (IP).

Involved fees earner: Nathaniel Bascom – Simpson Thacher & Bartlett; John Creed – Simpson Thacher & Bartlett; Caitlin Grimes – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Joshua Hazan – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Jacqui Bogucki – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Alan Klein – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Brian Mathes – Simpson Thacher & Bartlett; Christopher May – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Brian Robbins – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Brian Steinhardt – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Justin Thekkekara – Simpson Thacher & Bartlett; Sergio Torres – Simpson Thacher & Bartlett; Jonathan Zane – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Waste Management inc;