<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
WASTE MANAGEMENT, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $1.00 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
94106K101
------------------------------------
(CUSIP Number)
June 5, 1998
------------------------------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1
Exhibit Index: Page 18
<PAGE>
Page 2
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Soros Fund Management LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
-------- ----------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 22,796,200
OWNED BY
EACH ------ -----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 22,796,200
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,796,200
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.01%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 3
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
George Soros (in the capacity described herein)
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 25,651,100
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
2,854,900
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
22,796,200
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,651,100
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.64%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 4
- ---------------------
CUSIP No. 94106K101 13G
- --------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Stanley F. Druckenmiller (in the capacity described herein)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 25,421,300
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 2,625,100
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
22,796,200
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,421,300
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.58%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 5
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Quantum Industrial Partners LDC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -------------------------- ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,288,600
OWNED BY
EACH ------ ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 1,288,600
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,288,600
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.28%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO, IV
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 6
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
QIH Management Investor, L.P.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
--------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,288,600
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,288,600
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,288,600
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.28%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, PN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 7
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
QIH Management, Inc.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------- ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,288,600
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 1,288,600
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,288,600
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.28%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 8
- --------------------
CUSIP No. 94106K101 13G
- --------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Duquesne Capital Management, L.L.C.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
PENNSYLVANIA
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,625,100
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 2,625,100
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,625,100
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[X]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.58%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 9
Item 1(a) Name of Issuer:
--------------
Waste Management, Inc. (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
3003 Butterfield Road
Oak Brook, Illinois 60523
Items 2(a) Name of Person Filing:
---------------------
This Statement is filed on behalf of the following
persons (collectively, the "Reporting Persons"):
i) Soros Fund Management LLC, a Delaware
limited liability company ("SFM LLC");
ii) Mr. George Soros ("Mr. Soros");
iii) Mr. Stanley F. Druckenmiller ("Mr.
Druckenmiller");
iv) Quantum Industrial Partners LDC, a
Cayman Islands exempted limited duration
company ("QIP");
v) QIH Management Investor, L.P., a Delaware
limited partnership ("QIHMI");
vi) QIH Management, Inc., a Delaware
corporation ("QIH Management"); and
vii) Duquesne Capital Management, L.L.C., a
Pennsylvania limited liability company
("Duquesne LLC").
This Statement relates to Shares (as
defined herein) held for the accounts of
each of the following:
(i) Quantum Partners LDC, a Cayman Islands
exempted limited duration company
("Quantum Partners");
(ii) Quota Fund N.V., a Netherlands Antilles
corporation ("Quota Fund");
(iii) QIP;
(iv) Mr. Soros, individually;
(v) Lupa Family Partners, a New York limited
partnership ("Lupa"); and
(vi) the Duquesne LLC Clients (as defined
herein).
<PAGE>
Page 10
QIHMI, an investment advisory firm, is
vested with investment discretion over the
Shares held for the account of QIP. Mr.
Soros is filing in his capacity as (i) the
sole shareholder of QIH Management, (ii) the
sole general partner of QIHMI, (iii)
Chairman of SFM LLC, (iv) a general partner
of Lupa, and (v) an individual investor. Mr.
Soros has entered into an agreement pursuant
to which he has agreed to use his best
efforts to cause QIH Management to act at
the direction of SFM LLC. SFM LLC serves as
principal investment manager to Quantum
Partners and Quota Fund and, as such, has
been granted investment discretion over
portfolio investments, including the Shares,
held for the accounts of Quantum Partners
and Quota Fund. Mr. Druckenmiller is Lead
Portfolio Manager and a member of the
management committee of SFM LLC. Mr.
Druckenmiller also owns a 75% interest in,
and is the sole managing member of, Duquesne
LLC, an investment advisory firm that serves
as discretionary investment advisor to a
limited number of institutional clients (the
"Duquesne LLC Clients").
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office
of QIP is Kaya Flamboyan 9, Willemstad,
Curacao, Netherlands Antilles.
The address of the principal business office
of each of QIHMI, QIH Management, SFM LLC,
Mr. Soros and Mr. Druckenmiller is 888
Seventh Avenue, 33rd Floor, New York, NY
10106.
The address of the principal business office
of Duquesne LLC is 2579 Washington Road,
Suite 322, Pittsburgh, PA 15241-2591.
Item 2(c) Citizenship:
i) SFM LLC is a Delaware limited liability
company;
ii) Mr. Soros is a United States citizen;
iii) Mr. Druckenmiller is a United States
citizen;
iv) QIP is a Cayman Islands exempted
limited duration company;
v) QIHMI is a Delaware limited partnership;
<PAGE>
Page 11
vi) QIH Management is a Delaware corporation;
and
vii) Duquesne LLC is a Pennsylvania limited
liability company.
Item 2(d) Title of Class of Securities:
----------------------------
Common Stock, par value $1.00 per share
(the "Shares")
Item 2(e) CUSIP Number:
------------
94106K101
Item 3 Not applicable.
Item 4. Ownership:
--------
Item 4(a) Amount Beneficially Owned:
-----------------------
Each of the Reporting Persons may be deemed
the beneficial owner of the following number
of Shares:
i) SFM LLC may be deemed to be the
beneficial owner of 22,796,200 Shares. This
number consists of (A) 21,007,600 Shares
held for the account of Quantum Partners,
(B) 500,000 Shares held for the account of
Quota Fund and (C) 1,288,600 Shares held for
the account of QIP.
ii) Mr. Soros may be deemed to be the
beneficial owner of 25,651,100 Shares. This
number consists of (A) 21,007,600 Shares
held for the account of Quantum Partners,
(B) 500,000 Shares held for the account of
Quota Fund, (C) 1,288,600 Shares held for
the account of QIP, (D) 1,427,450 Shares
held for the account of Lupa and (E)
1,427,450 Shares held for his personal
account.
iii) Mr. Druckenmiller may be deemed the
beneficial owner of 25,421,300 Shares. This
number consists of (A) 21,007,600 Shares
held for the account of Quantum Partners,
(B) 500,000 Shares held for the account of
Quota Fund, (C) 1,288,600 Shares held for
the account of QIP and (D) 2,625,100 Shares
held for the accounts of the Duquesne LLC
Clients.
iv) QIP, QIHMI and QIH Management may be
deemed the beneficial owner of 1,288,600
Shares held for the account of QIP.
<PAGE>
Page 12
v) Duquesne LLC may be deemed the beneficial
owner of 2,625,100 Shares held for the
accounts of the Duquesne LLC Clients.
Item 4(b) Percent of Class:
----------------
i) The number of Shares of which SFM LLC may
be deemed to be the beneficial owner
constitutes approximately 5.01% of the total
number of Shares outstanding.
ii) The number of Shares of which Mr. Soros
may be deemed to be the beneficial owner
constitutes approximately 5.64% of the total
number of Shares outstanding.
iii) The number of Shares of which Mr.
Druckenmiller may be deemed to be the
beneficial owner constitutes approximately
5.58% of the total number of Shares
outstanding.
iv) The number of Shares of which each of
QIP, QIHMI and QIH Management may be deemed
to be the beneficial owner constitutes
approximately 0.28% of the total number of
Shares outstanding.
v) The number of Shares of which Duquesne LLC
may be deemed to be the beneficial owner
constitutes approximately 0.58% of the total
number of Shares outstanding.
Item 4(c) Number of shares as to which such person has:
--------------------------------------------
SFM LLC
-------
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the
vote: 22,796,200
(iii) Sole power to dispose or to direct the
disposition of: 22,796,200
(iv) Shared power to dispose or to direct the
disposition of: -0-
Mr. Soros
---------
(i) Sole power to vote or to direct the vote:
-0-
<PAGE>
Page 13
(ii) Shared power to vote or to direct the
vote: 25,651,100
(iii) Sole power to dispose or to direct the
disposition of: 2,854,900
(iv) Shared power to dispose or to direct the
disposition of: 22,796,200
Mr. Druckenmiller
-----------------
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the
vote: 25,421,300
(iii) Sole power to dispose or to direct the
disposition of: 2,625,100
(iv) Shared power to dispose or to direct the
disposition of: 22,796,200
QIP
---
(i) Sole power to vote or to direct the
vote: -0-
(ii) Shared power to vote or to direct the
vote:1,288,600
(iii) Sole power to dispose or to direct the
disposition of: 1,288,600
(iv) Shared power to dispose or to direct the
disposition of: -0-
QIHMI
-----
(i) Sole power to vote or to
direct the vote: -0-
(ii) Shared power to vote or to direct the
vote: 1,288,600
(iii) Sole power to dispose or to direct the
disposition of: 1,288,600
(iv) Shared power to dispose or to direct the
disposition of: -0-
QIH Management, Inc.
-------------------
(i) Sole power to vote or to direct the
vote: -0-
<PAGE>
Page 14
(ii) Shared power to vote or to direct the
vote: 1,288,600
(iii) Sole power to dispose or to direct
the disposition of: 1,288,600
(iv) Shared power to dispose or to direct the
disposition of: -0-
Duquesne LLC
------------
(i) Sole power to vote or to direct the
vote: -0-
(ii) Shared power to vote or to direct the
vote: 2,625,100
iii) Sole power to dispose or to direct the
disposition of: 2,625,100
(iv) Shared power to dispose or to direct the
disposition of: -0-
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf
---------------------------------------------
of Another Person:
-----------------
The shareholders of QIP, including Quantum
Industrial Holdings, Ltd., a British Virgin
Islands international business company,
have the right to participate in the receipt
of dividends from, or proceeds from the sale
of securities (including the Shares), held
for the account of QIP in accordance with
their respective ownership interests in QIP.
The shareholders of Quantum Partners,
including Quantum Fund N.V., a Netherlands
Antilles company, have the right to
participate in the receipt of dividends from,
or proceeds from the sale of, the Shares held
for the account of Quantum Partners in
accordance with their ownership interests in
Quantum Partners.
The shareholders of Quota Fund have the right
to participate in the receipt of dividends
from, or proceeds from the sale of, the
Shares held for the account of Quota Fund in
accordance with their ownership interests in
Quota Fund.
The partners of Lupa have the right to
participate in the receipt of dividends from,
<PAGE>
Page 15
or proceeds from the sale of, the Shares held
for the account of Lupa in accordance with
their partnership interests in Lupa.
The Duquesne LLC Clients have the right to
participate in the receipt of dividends from,
or proceeds from the sale of, the Shares,
held for their accounts.
SFM LLC expressly disclaims beneficial
ownership of any Shares held for the accounts
of of Mr. Soros, Lupa and the Duquesne LLC
Clients.
Mr. Soros expressly disclaims beneficial
ownership of any Shares held for the accounts
of the Duquesne LLC Clients.
Mr. Druckenmiller expressly disclaims
beneficial ownership of any Shares held for the
accounts of Mr. Soros and Lupa.
Each of QIP, QIHMI and QIH Management
expressly disclaims beneficial ownership of
any Shares held for the accounts of Quantum
Partners, Quota Fund, Mr. Soros, Lupa and the
Duquesne LLC Clients.
Duquesne LLC expressly disclaims beneficial
ownership of any Shares held for the accounts
of Quantum Partners, QIP, Quota Fund, Mr.
Soros and Lupa.
Item 7 Identification and Classification of the
----------------------------------------
Subsidiary Which Acquired the Security Being
----------------------------------------------
Reported on By the Parent Holding Company:
-----------------------------------------
Not Applicable
Item 8 Identification and Classification of Members
--------------------------------------------
of the Group:
------------
See Exhibit E
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below each signatory certifies that, to the best of his/its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the Issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
<PAGE>
Page 16
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated as of: June 5, 1998
SOROS FUND MANAGEMENT LLC
By: Michael C. Neus
Name: Michael C. Neus
Title: Assistant General Counsel
GEORGE SOROS
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
STANLEY F. DRUCKENMILLER
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
QUANTUM INDUSTRIAL PARTNERS LDC
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
QIH MANAGEMENT INVESTOR, L.P.
By: QIH Management, Inc.
its General Partner
By:Michael C. Neus
Name: Michael C. Neus
Title: Vice President
<PAGE>
Page 17
QIH MANAGEMENT, INC.
By:Michael C. Neus
Name: Michael C. Neus
Title: Vice President
DUQUESNE CAPITAL MANAGEMENT, L.L.C.
By:Gerald Kerner
Name: Gerald Kerner
Title: Managing Director
<PAGE>
Page 18
EXHIBIT INDEX
-------------
Exhibit No. Description
- ---------- -----------
A. Power of Attorney dated as of January 1, 1997
granted by Mr. George Soros in favor of Mr. Sean C. Warren
and Mr. Michael C. Neus.
B. Power of Attorney dated as of January 1, 1997
granted by Mr. Stanley F. Druckenmiller in favor of Mr.
Sean C. Warren and Mr. Michael C. Neus.
C. Power of Attorney dated May 23, 1996, granted by Quantum
Industrial Partners LDC in favor of Mr. Gary Gladstein, Mr. Sean
C. Warren and Mr. Michael C. Neus.
D. Joint Filing Agreement dated June 5, 1998 by and among
Soros Fund Management LLC, Mr. George Soros, Mr. Stanley F.
Druckenmiller, Quantum Industrial Partners LDC, QIH Management
Investor, L.P., QIH Management, Inc. and Duquesne Capital
Management, L.L.C.
E. Identification of the Members of the Group
F. Voting Agreement, dated as of May 13, 1996, by and between George Soros and
Duquense Capital Management, L.L.C.
<PAGE>
EXHIBIT A
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, GEORGE SOROS, hereby make, constitute
and appoint each of SEAN C. WARREN and MICHAEL C. NEUS, acting individually, as
my agent and attorney-in-fact for the purpose of executing in my name, (a) in my
personal capacity or (b) in my capacity as Chairman of, member of or in other
capacities with Soros Fund Management LLC, all documents, certificates,
instruments, statements, filings and agreements ("documents") to be filed with
or delivered to any foreign or domestic or governmental or regulatory body or
required or requested by any other person or entity pursuant to any legal or
regulatory requirement relating to the acquisition, ownership, management or
disposition of securities or other investments, and any other documents relating
or ancillary thereto, including but not limited to, all documents relating to
filings with the United States Securities and Exchange Commission (the "SEC")
pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934
(the "Act") and the rules and regulations promulgated thereunder, including: (1)
all documents relating to the beneficial ownership of securities required to be
filed with the Sec pursuant to Section 13(d) or Section 16(a) of the Act,
including, without limitation: (a) any acquisition statements on Schedule 13D or
Schedule 13G and any amendments thereto, (b) any joint filing agreements
pursuant to Rule 13d-1(f) and (c) any initial statements of, or statements of
changes in, beneficial ownership of securities on Form 3, Form 4 or Form 5 and
(2) any information statements on Form 13F required to be filed with the SEC
pursuant to Section 13(f) of the Act.
All past acts of the attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of
January, 1997.
/s/ George Soros
-------------------------------
GEORGE SOROS
<PAGE>
EXHIBIT B
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I, STANLEY F. DRUCKENMILLER, hereby make,
constitute and appoint each of SEAN C. WARREN and MICHAEL C. NEUS, acting
individually, as my agent and attorney-in-fact for the purpose of executing in
my name, (a) in my personal capacity or (b) in my capacity as Lead Portfolio
Manager of, member of or in other capacities with Soros Fund Management LLC, all
documents, certificates, instruments, statements, filings and agreements
("documents") to be filed with or delivered to any foreign or domestic or
governmental or regulatory body or required or requested by any other person or
entity pursuant to any legal or regulatory requirement relating to the
acquisition, ownership, management or disposition of securities or other
investments, and any other documents relating or ancillary thereto, including
but not limited to, all documents relating to filings with the United States
Securities and Exchange Commission (the "SEC") pursuant to the Securities Act of
1933 or the Securities Exchange Act of 1934 (the "Act") and the rules and
regulations promulgated thereunder, including: (1) all documents relating to the
beneficial ownership of securities required to be filed with the Sec pursuant to
Section 13(d) or Section 16(a) of the Act, including, without limitation: (a)
any acquisition statements on Schedule 13D or Schedule 13G and any amendments
thereto, (b) any joint filing agreements pursuant to Rule 13d-1(f) and (c) any
initial statements of, or statements of changes in, beneficial ownership of
securities on Form 3, Form 4 or Form 5 and (2) any information statements on
Form 13F required to be filed with the SEC pursuant to Section 13(f) of the Act.
All past acts of the attorney-in-fact in furtherance of the foregoing are hereby
ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
IN WITNESS WHEREOF, I have executed this instrument as of the 1st day of
January, 1997.
/s/ Stanley F. Druckenmiller
-----------------------------
STANLEY F. DRUCKENMILLER
<PAGE>
EXHIBIT C
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENT, that the undersigned QUANTUM
INDUSTRIAL PARTNERS LDC (the "Company"), an exempted limited duration company
existing and operating under the laws of Cayman Islands does, pursuant to a duly
adopted resolution of its Managing Directors, hereby designate, constitute, and
appoint:
GARY GLADSTEIN, SEAN C. WARREN, and MICHAEL NEUS
acting, singly and not jointly, as its true and lawful agent(s) and
attorney-in-fact for the purpose of executing in its name, all documents,
certificates, instruments, statements, filings and agreements ("documents") to
be filed with or delivered to any foreign or domestic governmental or regulatory
body or required or requested by any other person or entity pursuant to any
legal or regulatory requirement relating to the acquisition, ownership,
management or disposition of securities or other investments, and any other
documents relating or ancillary thereto, including but not limited to, all
documents relating to filings with the United States Securities and Exchange
Commission (the "SEC") or the pursuant to the Securities Act of 1933 or the
Securities Exchange Act of 1934 (the "Act") and the rules and regulations
promulgated thereunder, including: (1) all documents relating to the beneficial
ownership of securities required to be filed with the SEC pursuant to Section
13(d) or Section 16(a) of the Act including, without limitation: (a) any
acquisition statements on Schedule 13D or Schedule 13G and any amendments
thereto, (b) any joint filing agreements pursuant to Rule 13d-1(f) and (c) any
initial statements of, or statements of changes in, beneficial ownership of
securities on Form 3, Form 4 or Form 5 and (2) any information statements on
Form 13F required to be filed with the SEC pursuant to Section 13(f) of the Act.
Each attorney-in-fact is hereby authorized and empowered to
perform all other acts and deeds, which he or she in his or her sole discretion
deems necessary or appropriate to carry out to the fullest extent the terms and
the intent of the foregoing. All prior acts of each attorney-in-fact in
furtherance are hereby ratified and confirmed.
IN WITNESS WHEREOF, the Company has caused this document to be
executed this 23rd day of May, 1996.
/s/ QUANTUM INDUSTRIAL PARTNERS LDC
------------------------------------
Curacao Corporation Company N.V.
Managing Director
<PAGE>
EXHIBIT D
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Shares of Waste Management, Inc. dated as of June 5, 1998 is, and
any amendments thereto (including any amendments on Schedule 13D) signed by each
of the undersigned shall be, filed on behalf of us pursuant to and in accordance
with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934.
Dated as of: June 5, 1998
SOROS FUND MANAGEMENT LLC
By:Michael C. Neus
Name: Michael C. Neus
Title: Assistant General Counsel
GEORGE SOROS
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
STANLEY F. DRUCKENMILLER
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
QUANTUM INDUSTRIAL PARTNERS LDC
By:Michael C. Neus
Name: Michael C. Neus
Title: Attorney-in-Fact
QIH MANAGEMENT INVESTOR, L.P.
By: QIH Management, Inc.
its General Partner
By:Michael C. Neus
Name: Michael C. Neus
Title: Vice President
<PAGE>
QIH MANAGEMENT, INC.
By:Michael C. Neus
Name: Michael C. Neus
Title: Vice President
DUQUESNE CAPITAL MANAGEMENT, L.L.C.
By:Gerald Kerner
Name: Gerald Kerner
Title: Managing Director
EXHIBIT E
IDENTIFICATION OF MEMBERS OF THE GROUP
Pursuant to Item 8 of Schedule 13G, set forth below are the
identities of the members of the group reporting on this statement on Schedule
13G with respect to the Shares of the Issuer:
SOROS FUND MANAGEMENT LLC
GEORGE SOROS
STANLEY F. DRUCKENMILLER
QUANTUM INDUSTRIAL PARTNERS LDC
QIH MANAGEMENT INVESTOR, L.P.
QIH MANAGEMENT, INC.
DUQUESNE CAPITAL MANAGEMENT, L.L.C.
<PAGE>
EXHIBIT F
AGREEMENT
This AGREEMENT dated as of May 13, 1996 by GEORGE SOROS ("Mr. Soros")
and DUQUESNE CAPITAL MANAGEMENT, L.L.C., a Pennsylvania limited liability
company ("Duquesne LLC").
W I T N E S S E T H
WHEREAS, Mr. Soros may be deemed the direct or indirect beneficial
owner of shares of common stock, par value $1 ("Common Stock") of WMX
Technologies, Inc. (the "Issuer");
WHEREAS, Duquesne LLC may be deemed the direct or indirect beneficial
owner of shares of Common Stock;
WHEREAS, Mr. Soros and Duquesne LLC desire to vote the shares of Common
Stock of which they may be deemed to be beneficial owners in the same manner;
NOW THEREFORE, in consideration of the foregoing and of the mutual
terms and conditions set forth herein, the parties hereto, intending to be
legally bound, agree as follows:
1. At any time any actions are taken or proposed to be taken by the Issuer which
require a vote of the stockholders of the Issuer, the parties shall meet within
a reasonable period of time prior to the date on which such a vote is to be
taken, and shall use their best efforts to reach an agreement to vote in the
same manner all of the shares of Common Stock over which each of them has direct
or indirect voting power.
2. This agreement shall terminate in the event either Mr. Soros or Duquesne LLC
no longer has direct or indirect voting power with respect to any shares of
Common Stock.
3. Nothing in this Agreement shall prevent any party from acquiring any
additional shares of Common Stock or disposing of any shares of Common Stock
with respect to which the party has direct or indirect dispositive power. Any
additional shares of Common Stock acquired over which either Mr. Soros or
Duquesne LLC has direct or indirect voting power shall be subject to the terms
and conditions of this Agreement.
4. This Agreement may be executed in two or more counterparts, all of which
shall be considered one and the same agreement.
<PAGE>
5. This Agreement constitutes the entire agreement among the parties hereto and
supersedes all prior agreements and understandings among the parties hereto with
respect to the subject matter hereof.
6. This Agreement shall be governed by and construed in accordance with the laws
of the State of New York.
-2-
<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date above first written.
GEORGE SOROS
By: /s/ Sean C. Warren
-------------------
Sean C. Warren
Attorney-in-Fact
DUQUESNE CAPITAL MANAGEMENT, L.L.C.
By: /s/ Michael A. Shay
---------------------
Name: Michael A. Shay
Title: Vice President
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