GFL Environmental Acquires Secure Waste Infrastructure in New Deal
GFL Environmental Inc. has reached an agreement to acquire Secure Waste Infrastructure Corp. in a significant new deal valued at approximately $6.4 billion. This transaction marks a strategic expansion for GFL in the waste management sector.
Details of the Acquisition
Secure Waste Infrastructure, based in Western Canada and North Dakota, operates an extensive waste management business with over 80 locations. The company’s portfolio includes:
- 12 landfills
- 55 waste treatment facilities
- 12 recycling facilities
- 98 injection wells
- 5 transfer stations
Shareholder Payment Options
The agreement offers Secure’s shareholders flexibility in their method of payment. They can choose one of the following options for each share they hold:
- $24.75 in cash
- 0.4195 of a GFL subordinate voting share
- A combination of cash and GFL shares
However, there are limits imposed on the total amount of cash and shares available under the agreement. The cash component is capped at 20% of the total payment, while GFL shares are limited to 80%.
Market Response
On the Toronto Stock Exchange, Secure shares were trading at $21.36 prior to the announcement. The acquisition will require approval from Secure’s shareholders and is anticipated to finalize in the latter half of the year.
This acquisition presents an opportunity for GFL Environmental to enhance its operational footprint in the waste management industry while providing Secure’s shareholders with attractive compensation options.
