On September 18, GFL Environmental Holdings Inc. rose 5.16% in regular trading, trading at $43.19/share, with turnover of $124 million.

On the news front, reports indicate that a consortium led by Blackstone Group and Brookfield is set to submit a bid for GFL Environmental Holdings Inc., fueling renewed privatization expectations and driving the stock higher. The latest development adds to a series of buyout-related headlines that have emerged since early July, when multiple private equity firms were reported to have expressed acquisition interest, prompting the company to engage advisors on a potential go-private transaction. Subsequently, Apollo Global Management also held discussions with the company regarding a possible investment or takeover, and the board formed a special committee to evaluate offers.

The multi-party competitive bidding landscape has further reinforced market expectations for a privatization premium. In addition, the company has demonstrated solid operational momentum, raising its full-year revenue guidance twice, most recently to a range of CA$7.51 billion to CA$7.53 billion, well above consensus estimates. CIBC Capital Markets also recently raised its price target on the stock to CA$82 from CA$76, maintaining an outperformer rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)