GFL Environmental Jumps 4% as Two Private Equity Consortia Submit Takeover Bids

Seeking Alpha··CAUS·Read original
4▲1 ▼0Impact / 5
Summary · why it matters

GFL Environmental rose 4% on a report that two private equity groups have made offers for the company. GFL's special committee is evaluating the takeover offers with its adviser, according to traders who cited a CTFN report circulating on Friday that cited a source familiar with the matter. One group consists of private equity firms KKR, Blackstone, and Energy Capital Partners, while the other group includes Brookfield Asset Management and IFM Investors. The bids likely need to be at the top end of the $50 to $55 a share range that CTFN previously reported to get across the finish line, and GFL has also received interest from strategic buyers for certain markets or regions. GFL CEO Patrick Dovigi told Bloomberg TV last month that he is open to taking the company private at a higher valuation than it currently trades at, saying no decision has been made, and GFL is set to report Q3 results on Oct. 28.

Impact on assets 4

Climate Adaptation & Water▲ · 1 stocks
Gfl Environmental Holdings Inc
GFL
▲ PositiveCapitalrelevance

Two private equity consortia submitted takeover bids for GFL, with the special committee evaluating the offers.

Financials▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Blackstone Group Inc
BX
± MixedCapitalrelevance

Named as part of a private equity group bidding for GFL, with no deal terms or impact specific to Blackstone.

Aging Population▲ · 1 stocks
KKR & Co. Inc.
KKR
± MixedCapitalrelevance

Named as part of a private equity consortium bidding for GFL, but no specific terms or outcome for KKR.

Theme Impact 1

Off-coverage companies 2

Energy Capital PartnersPrivate± Mixed
Capitalrelevance

Named as part of a private equity group bidding for GFL, with no deal terms or impact specific to Energy Capital Partners.

IFM InvestorsPrivate± Mixed
Capitalrelevance

Named as part of a consortium bidding for GFL, but no specific terms or outcome for IFM Investors.

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