Overview
- A transaction announced Monday offers $24.75 per Secure share, paid about 80% in GFL stock and 20% in cash.
- Secure shareholders can choose cash, GFL shares, or a mix, and are slated to hold about 16% of the combined company after closing.
- The deal requires shareholder and regulatory approvals with a target close in the second half of 2026, and Secure shares would be delisted from the TSX once it closes.
- GFL says the acquisition will raise its profit margin on core operations to about 31.6% and lift free‑cash‑flow conversion, with a 12% to 15% boost to adjusted free‑cash‑flow per share.
- GFL shares fell about 7.9% after the news, and one analyst pegged the purchase price at roughly 25.5 times Secure’s earnings.