GFL Environmental Jumps 7.56% on Take-Private Report as TSX Implies $14.55 Billion Equity Value
Updated
Updated · ts2.tech · Jul 3
GFL Environmental Jumps 7.56% on Take-Private Report as TSX Implies $14.55 Billion Equity Value
1 articles · Updated · ts2.tech · Jul 3
Summary
GFL Environmental rose 7.56% to C$57.17 in Toronto, with volume reaching 938,410 shares, after Reuters cited a Bloomberg report that the waste-services company is exploring a possible take-private deal.
Toronto trading implied a U.S. price of about $40.27—$2.79 above GFL’s July 2 NYSE close—and lifted the company’s equity value to roughly $14.55 billion, about $1 billion higher before any takeover premium.
Bloomberg said talks are still early, with no assurance of a transaction; some suitors may seek only a smaller stake, and a full sale would likely require founder and CEO Patrick Dovigi to roll over his holding.
Any deal would have to navigate a complex balance sheet, including about $7.1 billion of reported debt, a pending C$6.4 billion SECURE Waste acquisition and a recent $750 million note sale tied partly to that transaction.
The report landed with NYSE trading shut for the U.S. holiday, leaving Toronto to set the first market reaction ahead of the July 6 U.S. reopen and GFL’s July 29-30 earnings update.