Business
Cleanaway in a $2.5b scrap for local Suez recycling assets – Sydney Morning Herald
The ASX-listed waste manager has got itself into a scrap with French waste giant Veolia Environnement by agreeing to buy Suez’s Australian recycling assets while…
Suez has given Veolia until April 20 to negotiate on the basis of its proposed solution, which involves a 20 per share takeover price – 2 more than Veolia has offered – and selling more than half the company to private equity, or until May 5 to make a bid for a full takeover at $22.50 per share.
Cleanaway said it first approached Suez in April last year about a potential deal.
Cleanway said that if its proposal survives the Veolia deal, it plans to raise equity to partially fund the purchase along…
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