GFL Environmental Explores Sale as Stock Slumps

GFL Environmental (NYSE: GFL ), a top rival to Waste Management (NYSE: WM ) is reportedly exploring a sale to either a competitor or a buyout firm as its stock remains under pressure. It has received bids from some of the potential buyout companies. GFL, which is listed in New York and Toronto, has a market capitalization of over $14.5 billion and carries $7.1 billion in debt. That debt may make bring challenges to a potential deal. Also, the potential buyer may need to convince Patrick Dovigi, its CEO and founder, to roll over his stake. The potential buyout comes a year after Apollo Global Management (NYSE: APO ) and BC Partners bought a majority stake in its services unit. It also sold a minority stake in Green Infrastructure Partners to Energy Capit...