GFL Environmental Inc. Announces Major Share Buyback Strategy

Story Highlights
GFL Environmental Inc. Announces Major Share Buyback Strategy

GFL Environmental ( (TSE:GFL) ) has issued an announcement.

GFL Environmental Inc. announced the direct buyback of 17,050,298 subordinate voting shares from BC Partners and plans to repurchase up to 7,056,027 shares in a secondary offering. These transactions align with GFL’s strategy to utilize proceeds from the sale of its Environmental Services business to repurchase shares, aiming to strengthen its market position without negatively impacting share value. The company’s board approved these transactions, supported by a special committee, and received regulatory approval to proceed with share repurchases.

More about GFL Environmental

GFL Environmental Inc., headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America. It provides a comprehensive line of solid waste management services across Canada and 18 U.S. states, employing more than 15,000 people.

YTD Price Performance: 8.13%

Average Trading Volume: 1,813,877

Technical Sentiment Signal: Sell

Current Market Cap: $18.92B

Find detailed analytics on GFL stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App