A truck from Canadian waste management company GFL Environmental Inc makes its rounds through a neighbourhood in Toronto, Ontario, Canada November 5, 2019. REUTERS
(Reuters) – Waste management company GFL Environmental is nearing a deal to acquire Canada’s Secure Waste Infrastructure in a deal valued at over C$6 billion ($4.33 billion), Bloomberg News reported on Sunday, citing a person familiar with the matter.
Reuters could not immediately confirm the report. GFL and Secure Waste did not immediately respond to requests for comment.
The deal is expected to be 20% cash and 80% stock, the report said, adding that the proposed price is around C$24.50 per share.
The deal represents a premium of about 15% to Secure Waste’s last close on Friday.
Earlier this month, GFL acquired Frontier Waste Solutions from BGL, with the financial terms of the transaction undisclosed.
Calgary-based Secure Waste operates a network of processing, recovery, and disposal infrastructure across Western Canada and North Dakota, according to its website.
($1 = 1.3865 Canadian dollars)
Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Rashmi Aich
