News Releases

Baker Botts Advises Waste Management, Inc. in its Acquisition of Stericycle, a Leader in Medical Waste Services, for $7.2 Billion


Deal Description: Waste Management, Inc. (NYSE: WM) and Stericycle (NASDAQ: SRCL) announced today that they have entered into a definitive agreement under which WM will acquire all outstanding shares of Stericycle for an enterprise value of approximately $7.2 billion. The transaction is not subject to a financing condition. WM intends to finance the transaction using a combination of bank debt and senior notes and is expected to close as early as the fourth quarter of 2024.

Stericycle is a premier provider of regulated medical waste and compliance services as well as secure information destruction services.

Waste Management’s release can be found: here.

Baker Botts represented Waste Management in connection with antitrust and foreign direct investment matters.

Baker Botts Lawyers/Offices Involved:

Partners James Kress, Jeffrey Oliver and Special Counsel Christina Ryu-Naya in the U.S.; and Partners David Cardwell, Matthew Levitt and Counsel Sofia Doudountsaki in Europe.

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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