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GFL Environmental rejects unsolicited takeover bids to remain a public company
GFLGFL Environmental Inc.
GFL Environmental Inc. announced that its Special Committee of independent directors has concluded the review of unsolicited proposals to acquire the company and take it private. The committee determined that the received offers were not in the shareholders' best interests, citing superior long-term value creation opportunities through the company's standalone strategy. Consequently, the Board unanimously voted to remain a public company. Management highlighted strong free cash flow inflection and outlined plans for opportunistic share repurchases and M&A activity while maintaining net leverage targets. GFL Environmental Inc. is the fourth largest diversified environmental services company in North America, providing comprehensive solid waste management services across Canada and 19 U.S. states.