CALGARY – GFL Environmental Inc. has signed a deal to buy Secure Waste Infrastructure Corp. in an agreement that values the company at about $6.4 billion.
Secure operates a waste management business in Western Canada and North Dakota. It has over 80 locations, including 12 landfills, 55 waste treatment facilities, 12 recycling facilities, 98 injection wells and five transfer stations
Under the agreement, Secure shareholders can choose to receive $24.75 in cash, 0.4195 of a GFL subordinate voting share or a combination of both for each Secure share they hold, subject to limits to the total number of shares and cash available under the offer.
The plan caps the cash available at 20 per cent of the total payment to Secure shareholders, while the GFL shares available under the bid are limited to 80 per cent of the total amount to be paid.
Secure shares closed at $21.36 on the Toronto Stock Exchange on Friday.
The deal, which requires approval by Secure shareholders, is expected to close in the second half of the year.
This report by The Canadian Press was first published April 13, 2026.
Companies in this story: (TSX:SES, TSX:GFL)
