What if Donald Trump decided to ban oil exports?
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Trying to keep prices low that way could backfire spectacularly
This article is an excerpt. To read the full content, visit the original source. The Economist
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What do PE fund managers see in GFL?
Open this photo in gallery:In Patrick Dovigi, PE funds see a proven talent, someone who has made money in the past under the constraints imposed by the extra debt of a leveraged buyout. Sammy Kogan/The Canadian PressPublic-market investors don’t seem to get Patrick Dovigi. The founder and chief executive officer of GFL Environmental Inc. GFL-T is listening to offers from private-equity suitors after last summer’s sharp sell-off in shares of the country’s largest waste-disposal company. GFL’s stock tanked after announcing plans to buy Calgary-based Secure Waste Infrastructure Corp. SES-T for $5.4-billion in cash and its own shares. Mr. Dovigi, already a candidate for the business hall of fame at age 47, snapped up Secure to become the oil patch’s dominant player in processing hazardous waste, chemicals and scrap metal. GFL closed the acquisition earlier this month. For investors who bought into GFL as an easy-to-understand garbage collector, the owner of the bright green trucks that pick up their trash, the Secure purchase added complexity and perceived cyclicality to the stock story.
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