The decision ends a months-long review led by an independent special committee. The board unanimously backed the company’s standalone strategy, committee Chair Dino Chiesa said Tuesday, arguing it offers shareholders “far superior risk-adjusted returns.”

Founder and Chief Executive Patrick Dovigi said improving cash generation could allow GFL to double free cash flow per share over the next five years while continuing to fund acquisitions and share buybacks.

Although the take-private review is over, some suitors remain interested in acquiring stakes held by GFL’s financial sponsors. The company said it will facilitate that process.