GFL Environmental tumbles after Secure Waste deal

GFL Environmental

13/04/2026 14:57

**  U.S.-listed shares of GFL Environmental GFL.N down 7% at $40.07 early Mon after ~$4.6 bln deal to buy peer Secure Waste Infrastructure SES.TO to deepen its footprint in Western Canada

** GFL shares on track for largest daily percentage drop since Apr 4, 2025, when they fell 7.1%

** The deal gives GFL access to Secure’s extensive network of waste processing and disposal assets across Western Canada and North Dakota

** GFL to acquire all outstanding common shares of Secure at C$24.75 apiece through combination of 20% cash and 80% stock, representing ~16% premium to Secure's last close

** GFL's debt-fueled expansion previously raised investor concerns, leading to a strategic review and the sale of underperforming assets last yr

** With the move on the session, U.S.-listed shares down 6.6% YTD and ~17% over the past 12 months

($1 = 1.3836 Canadian dollars)

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))