Monitor the May 27, 2026 shareholder meeting for Secure Waste, where approval of the arrangement will be voted on, and track progress on regulatory approvals which could impact the timeline for the expected H2 2026 closing.
Price Chart
Executive Summary
GFL Environmental Inc. has entered into a definitive arrangement agreement to acquire Secure Waste Infrastructure Corp. in a stock-and-cash deal valued at $24.75 per share. The transaction, structured as a plan of arrangement, includes a $200 million termination fee and is expected to close in the second half of 2026, pending shareholder and regulatory approvals.
Key Facts
- GFL Environmental Inc. is acquiring Secure Waste Infrastructure Corp. through a plan of arrangement
- Consideration is $24.75 per share, with options for cash, stock, or a combination
- Secure Waste shareholders will receive 0.4195 GFL shares or $24.75 cash per share
- Transaction includes a $200 million termination fee if Secure Waste terminates for a superior proposal
- Expected closing in second half of 2026, subject to shareholder and regulatory approvals
- GFL shareholders will own approximately 84% and former Secure Waste shareholders 16% of the combined company
Financial Impact
Deal valued at $24.75 per share with implied equity value of approximately $4.8 billion based on Secure Waste's 194 million shares outstanding
Risk Factors
- Failure to obtain required shareholder approval (66.67% of votes cast required)
- Regulatory approvals from Competition Act, CT Act, and HSR Act may delay or prevent closing
- Potential for a superior acquisition proposal triggering termination and $200 million fee
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-047044 |
| Document: tm2612468d1_ex99-1.htm | 0001104659-26-047044 |
| Document: tm2612468d1_6k.htm | 0001104659-26-047044 |
| Document: 0001104659-26-047044-index-headers.html | 0001104659-26-047044 |
| Document: 0001104659-26-047044-index.html | 0001104659-26-047044 |
| Document: 0001104659-26-047044.txt | 0001104659-26-047044 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 20d ago | 6-K | $42.31 $43.55 | ▲ +2.92% | ▲ +3.20% | $45.00 (+6.35%) |
Oct 1, 2026 26d ago | 6-K | $40.43 $42.33 | ▲ +4.70% | ▲ +3.40% | $45.00 (+11.30%) |
Sep 29, 2026 29d ago | 6-K | $42.20 $42.52 | ▲ +0.76% | ▼ −1.19% | $45.00 (+6.64%) |
Sep 29, 2026 29d ago | Press Release | $42.20 $42.52 | ▲ +0.76% | ▼ −1.19% | $45.00 (+6.64%) |
Sep 24, 2026 4w ago | 6-K | $41.79 $40.43 | ▼ −3.25% | ▼ −2.84% | $45.00 (+7.68%) |
Sep 24, 2026 4w ago | Press Release | $41.79 | awaiting T+5 | awaiting T+5 | $45.00 (+7.68%) |
Sep 22, 2026 5w ago | Institutional Cluster | $42.34 $42.20 | ▼ −0.33% | ▲ +0.86% | $45.00 (+6.28%) |
Sep 1, 2026 8w ago | 6-K | $41.50 $42.00 | ▲ +1.20% | ▲ +1.12% | $45.00 (+8.43%) |
Jul 2, 2026 16w ago | 6-K | $37.48 $40.10 | ▲ +6.99% | ▲ +6.06% | $45.00 (+20.06%) |
Jun 30, 2026 17w ago | 6-K | $36.79 $40.49 | ▲ +10.06% | ▲ +9.45% | $45.00 (+22.32%) |
US Market Status
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