GFL Environmental to Acquire SECURE Waste Infrastructure in Share-and-Cash Deal

GFL Environmental ( (TSE:GFL) ) just unveiled an announcement.

On April 12, 2026, GFL Environmental Inc. entered into an arrangement agreement to acquire all issued and outstanding common shares of SECURE Waste Infrastructure Corp. through a statutory plan of arrangement under Alberta corporate law. The deal will see SECURE become an indirect wholly owned subsidiary of GFL, with SECURE shareholders able to elect cash, GFL subordinate voting shares, or a mix, for total implied consideration of $24.75 plus a nominal cash amount per share, subject to cash and share caps and proration.

Based on current figures, existing GFL shareholders are expected to own about 84% of the combined company and former SECURE shareholders about 16%, though final ownership will depend on share counts at closing. SECURE plans a special shareholder meeting on May 27, 2026 to vote on the transaction, which requires two-thirds shareholder approval, court and competition clearance, stock exchange listing approvals and limited dissent, with closing targeted for the second half of 2026 and an outside date of November 1, 2026, and includes customary non-solicitation terms, a C$200 million break fee payable by SECURE and a C$20 million expense reimbursement fee potentially payable by GFL.

The most recent analyst rating on (TSE:GFL) stock is a Buy with a C$65.00 price target. To see the full list of analyst forecasts on GFL Environmental stock, see the TSE:GFL Stock Forecast page.

Spark’s Take on GFL Stock

According to Spark, TipRanks’ AI Analyst, GFL is a Neutral.

The score is driven by solid underlying cash generation and a favorable valuation (low P/E and high dividend yield), supported by a positive earnings-call backdrop with raised guidance and record margins. These are tempered by high leverage and mixed earnings quality/recent revenue decline, plus weak technical trend signals (below key moving averages with negative MACD).

To see Spark’s full report on GFL stock, click here.

More about GFL Environmental

GFL Environmental Inc. is a North American environmental services company providing solid waste management and related infrastructure solutions to municipal, industrial, commercial and institutional customers. The company operates an extensive network of collection, processing, recycling and disposal assets, positioning it as a consolidator in the waste and environmental services sector.

Average Trading Volume: 536,937

Technical Sentiment Signal: Hold

Current Market Cap: C$19.3B

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