Clean Harbors, Vertex drop after terminating $140 mln deal

Clean Harbors

25/01/2022 15:41

** Shares of recycling company Vertex Energy  VTNR.O  fall
as much as 9.36% to $3.83, lowest since May 2021, while
industrial services co Clean Harbors  CLH.N  drops 4.85% to
$90.2 
    ** CLH says it has mutually agreed with VTNR to terminate
the planned acquisition of VTNR's used motor oil (UMO)
collection and re-refinery assets  urn:newsml:reuters.com:*:nACSBjDgza
 
    ** CLH agreed to buy VTNR's UMO collection and re-refinery
business in an all-cash deal for $140 mln in June 
    ** VTNR will pay CLH a breakup fee of $3 million 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))