Some of the world’s biggest infrastructure investors are clubbing up to take over GFL Environmental Inc. in what could be one of the largest leveraged buyouts of the year. KKR & Co., Energy Capital Partners and Blackstone Inc. are bidding together while Brookfield Asset Management and IFM Investors have teamed on a rival bid for the waste manager. A decision could be made in the coming weeks.
GFL’s special committee is expected to take time to evaluate the proposals and could ask bidders to improve their offers. No final decision has been made, the timing could change, other bidders could emerge or the consortiums could change.