Simpson Thacher Represents JPMorgan as Financial Advisor to Progressive Waste Solutions in Its Stock for Stock Merger with Waste Connections
01.19.16
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The Firm is representing J.P. Morgan Securities LLC as financial advisor to Progressive Waste Solutions Ltd. (NYSE & TSX: BIN) in connection with its stock for stock merger with Waste Connections, Inc. (NYSE: WCN). Upon the completion of the transaction, Progressive Waste Solutions shareholders will own approximately 30% of the combined company and Waste Connections shareholders will own approximately 70%. The transaction is subject to customary closing conditions, including regulatory approvals, shareholder approvals and the approval of the Toronto Stock Exchange, and is expected to close in the second quarter of 2016.
Progressive Waste Solutions is one of North America’s largest full-service waste management companies, providing non-hazardous solid waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in the U.S. and Canada.
The Simpson Thacher team includes Rob Spatt and Stephen Wiseman (M&A).