GFL Environmental Holdings Inc. has agreed to acquire Secure Waste Infrastructure Company (SES) for an enterprise value of C$6.4 billion (US$4.62 billion). The transaction is set to expand the range of waste management services GFL can offer its clients.

Under the terms of the agreement, GFL, a provider of waste collection, recycling, soil remediation, and environmental services, will acquire all outstanding shares of Secure for C$24.75 per share in a combination of cash and stock. The total consideration consists of approximately 20% cash and 80% subordinate voting shares of GFL.

This offer represents a 23% premium to Secure's volume-weighted average share price over the past 60 trading days. Secure's stock has performed strongly in recent months, rising 24% year-to-date and gaining over 70% in the past 52 weeks.

Secure shareholders will have the option to choose, for each share held, one of the following forms of payment: - C$24.75 in cash, or - 0.4195 of a GFL subordinate voting share, or - A combination of C$4.95 in cash plus 0.3356 of a GFL subordinate voting share.

Patrick Dovigi, Chief Executive Officer of GFL, stated that the acquisition will add a portfolio of permitted complementary processing and disposal facilities to the company's operations. He emphasized that the deal will strengthen GFL's footprint in Western Canada and broaden the variety of waste management services available to its customer base.