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  "documentTitle": "GFL Environmental Inc. (GFL)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-08-18 00:00:00",
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  "nDataPoints": 24,
  "notes": "Uses a red-arrow visual indicator for negative sentiment across transaction criteria.",
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      "text": "In our opinion, GFL's announced acquisition of WCA right after Q2 2020 earnings illustrates its desperation to paper over poor performance...",
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      "text": "In our opinion, GFL's announced acquisition of WCA right after Q2 2020 earnings illustrates its desperation to paper over poor performance.",
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      "text": "Deal Value/EBITDA: 11.5x",
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      "text": "\"when it was publicly traded back in the early part of the decade at ~6x NTM EV/EBITDA it was not viewed as the highest quality asset.\" — Jefferies",
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      "text": "Financial and operational metrics comparing 2011 vs 2020 deal terms.",
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      "text": "WCA Deal of Desperation",
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