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  5. GFL: I have 400 shares of SES,could you walk me through the math on this if i do nothing when the takeover by GFL takes place later this year at $ 24. [GFL Environmental Inc. Subordinate no par value]
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Q: I have 400 shares of SES,could you walk me through the math on this if i do nothing when the takeover by GFL takes place later this year at $ 24.75 a share,how many shares of GFL will i have and if applicable any cash...Thanks
Asked by Greg on April 24, 2026
5i Research Answer:

GFL is buying SES for $24.75 cash or 0.4195 GFL shares, or $4.95 cash and 0.3356 GFL shares. The cash portion is capped, so investors should expect to receive 80% of the renumeration in GFL shares and 20% cash. Thus, 400 shares of SES will become (approx) 134 GFL shares and $1,980 cash. 

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