Latham & Watkins Advises Stericycle in US$7.2 Billion Acquisition by Waste Management

Waste Management, Inc. (NYSE: WM) and Stericycle (NASDAQ: SRCL) have announced that they have entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for US$62.00 per share in cash, representing a total enterprise value of approximately US$7.2 billion when including approximately US$1.4 billion of Stericycle’s net debt. Stericycle is a premier provider of regulated medical waste and compliance services as well as secure information destruction services.

Latham & Watkins LLP represents Stericycle in the transaction with a multidisciplinary deal team led by Chicago M&A partners Bradley Faris and Max Schleusener and Chicago partner Terra Reynolds, Vice Chair of the firm’s Healthcare & Life Sciences Industry Group, with M&A associates Grace Kim, Matthew Sieben, Mariah Levy, Claudia Wang, Leah Beukelman, and Amarantha Gomez. Advice was also provided on tax matters by Chicago partner Diana Doyle, with associates Michael Zucker and Jay Khurana; on executive compensation and benefits matters by New York partner Bradd Williamson, with associates Alisa Hand, Jaye Han, and Charity Wyatt; on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Nolan Fargo; on intellectual property matters by New York partner Jeffrey Tochner, with associate Sebastian Moss; on data privacy matters by Bay Area partner Robert Blamires, with associates Calum Docherty and Kathryn Parsons-Reponte; on US antitrust matters by Bay Area partner Joshua Holian, with associate Hanna Nunez Tse; on ex-US antitrust and FDI matters by Brussels partner Héctor Armengod and Hamburg partner Jana Dammann de Chapto, with associate Mario Barka; on real estate matters by counsel Jeffrey Anderson, with associate Moshe Friedland; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Elizabeth Annis; on compliance and regulatory diligence matters by Chicago partners Sean Berkowitz, Mark Mester, Meredith Monroe, and Kevin Jakopchek, Washington, D.C. partners Doug Greenburg, Drew Wisniewski, and Nicholas McQuaid, and Washington, D.C. counsel Timothy McCarten, with associates Lucas Novaes and Jamie Zucker; on debt financing matters by New York partner Scott Ollivierre; and on capital markets matters by associate Andrew Rutsky.