Activist Investor Jana Takes Stake in Rutland's Casella Waste, Presses for Higher Margins by 2029
Activist investor Jana Partners has taken a stake in Casella Waste Systems of Rutland, Vermont, Jana's Ostfeld said at the 13D Monitor conference, reported by Reuters. Casella, with a market value of about $5.6 billion, is down about 11 percent this year.
Jana is pressing the company to lift its adjusted EBITDA margin from 22.7 percent in the second quarter to 27 percent by 2029, make the commitment public, and tie executive pay more closely to shareholder value. Casella bought GFL's Mid-Atlantic assets for $525 million in 2023 as it expanded beyond New England.
The company has not publicly responded to Jana's demands.
Published by GSM · USA (original Chinese edition)
Photo: 佛蒙特州拉特兰市区（Casella 总部所在地）（图片：Wikimedia Commons）/ Downtown Rutland, Vermont, home of Casella Waste Systems (Photo: Wikimedia Commons)
