Reported 7 months ago
Activist investor ADW Capital Management LLC is pressuring waste management company GFL Environmental Inc. to divest its environmental services division instead of pursuing a full sale of the company. ADW holds 1.65 million shares in GFL, and founder Adam Wyden's letter recommends a sale of the ES business to potentially boost GFL's market value and relieve debt pressures. GFL's shares rose after reports of interest in its environmental unit, currently valued at around $13.9 billion with debt. The asset sale could position GFL as a pure-play waste management entity and enhance shareholder value.
Source: YAHOO