On July 7, GFL Environmental rose 9.53% in regular trading, trading at $41.05/share, with turnover of $220 million.
On the news front, Canadian media reported that GFL Environmental has held discussions with Apollo Global Management regarding a potential investment or takeover. The company's board has formed a special committee to evaluate the offers. The emergence of Apollo as a specific counterparty has further intensified privatization expectations.
This development follows earlier reports from July 3 that GFL was considering going private after receiving acquisition interest from multiple private equity firms, though discussions were described as being in early stages and potentially facing obstacles. GFL has been actively pursuing growth through M&A, including a near-deal to acquire Secure Waste Infrastructure for over CA$6 billion and the completed acquisition of Frontier Waste Solutions in Texas. The company reported Q1 adjusted earnings of CA$0.08 per share, beating estimates, and raised full-year revenue guidance to CA$7.32-7.34 billion.
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