Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, November 1, 2019

Article Excerpt

GFL ENVIRONMENTAL INC. now plans to launch an initial public offering. The company will sell 87.6 million shares of its stock to the public. The final price has yet to be set, but will likely be between $20 U.S. and $24 U.S. A GFL IPO could raise as much as $2.1 billion U.S. The company plans to trade under the symbol “GFL” on the Toronto Stock Exchange and the New York Stock Exchange. GFL is a privately held Toronto-based waste management company. It operates in every province except Prince Edward Island, as well as 23 U.S. states. It has more than 100 collection operations, over 60 transfer stations, 47 landfills, 29 material recovery facilities and nine organics facilities. The company services more than four million households through its 650-plus municipal collection contracts. It also maintains more than 135,000 commercial and industrial customers across North America. It is, in fact, North America’s fourth-largest waste hauler by revenue. Patrick Dovigi, GFL’s current CEO, founded the company…