GFL Environmental Inc.'s potential take-private process has one bidding group further along, but a rival remains involved and the Canadian waste management company has announced no sale agreement.
Bloomberg's September reporting placed KKR & Co., Energy Capital Partners and Blackstone Inc. in one group. It identified Brookfield Asset Management and IFM Investors as members of the rival group. The available reporting does not identify which group advanced.
GFL said July 29 that several parties had made preliminary approaches about taking the company private. Its board assigned any resulting discussions to a special committee of independent directors. GFL founder and CEO Patrick Dovigi pointed to what he considered a gap between the company's market valuation and its value when discussing the approaches.
GFL provides waste management services in Canada and 19 U.S. states. It plans to release third-quarter results after market close Oct. 28 and hold an investor call at 8:30 a.m. ET Oct. 29.
