GFL Shares Rise 8.1% in September Amid Rival Takeover Interest
Key Facts
GFL Environmental shares rose 8.1% before the market opened, according to a report published by Investing.com on September 17, 2026, following news of competing interest in acquiring the company. The website attributed the stock's advance in that session to a Bloomberg report on interest from potential buyers. The competition described in the report included consortiums of investment and asset management firms seeking to acquire the company. In separate coverage citing Bloomberg Television, the website reported that the chief executive was open to taking GFL private. The chief executive linked that openness to securing a higher valuation for the company, according to the website's report on his remarks.
In its second-quarter 2026 earnings disclosure, GFL confirmed that it had received expressions of interest from multiple parties in exploring a take-private transaction. The company described the approaches as "unsolicited preliminary expressions of interest," specifying the nature of the overtures it had received from interested parties. It said its board had formed a special committee to oversee potential discussions regarding the transaction. The committee comprises independent board members, according to the official disclosure accompanying the company's financial results. GFL warned in the same disclosure that "there is no assurance that any expressions of interest will result in a transaction," leaving the prospect of an agreement contingent on the outcome of discussions.
According to Investing.com's account of Bloomberg's reporting, KKR formed a consortium to compete to acquire GFL. The consortium also included Energy Capital Partners and Blackstone, according to the report on parties interested in the acquisition. On the other side, the report identified a consortium comprising Brookfield Asset Management and IFM Investors. It said Brookfield and IFM Investors had teamed up to submit a competing bid for the company. The competition described in the report thus pitted the consortium of KKR, Energy Capital Partners and Blackstone against the consortium of Brookfield and IFM Investors.
On the operational front, GFL reported revenue of 1,947.8 million dollars in the second quarter of 2026, according to its financial results statement. That represented an increase of 16.3% from the corresponding period, according to the company's quarterly figures. Discussing the geographic footprint of these operations, Dovigi said the United States now accounted for more than two-thirds of GFL's revenue. He added that more than half of U.S. revenue came from the Southeast, according to his remarks in the January 2026 headquarters relocation announcement. Dovigi described the Southeast as a "fast-growing" region in outlining the company's revenue mix and U.S. operating presence.
Alongside the interest in acquiring it, GFL announced on September 1, 2026, that it had closed its acquisition of Secure Waste Infrastructure. In its closing statement, the company confirmed that the Secure acquisition had been completed as it announced details of the associated financing. Financing for the transaction included the issuance of 75,126,306 GFL subordinate voting shares, according to the official statement. It also included a new secured term loan of 1 billion U.S. dollars, according to the details provided by the company. Acquisition financing thus combined the issuance of GFL shares with the new secured loan, the two components the company announced at closing.
GFL intends to update its 2026 guidance to include Secure, according to its acquisition closing statement. The company said it would provide the update alongside its third-quarter results, incorporating the acquired business into its forthcoming guidance. In its earnings date announcement, it set October 28, 2026, for the release of its financial results, with the announcement to come after the market closes. An investor call to discuss third-quarter results will follow on October 29, 2026, according to the schedule announced by GFL. The company set 8:30 a.m. Eastern Time as the start time for the call to discuss those results.