Morningstar raises Cleanaway's fair-value after EQT deal
BUZZ-Morningstar raises Cleanaway's fair-value after EQT deal ** Morningstar raises its fair-value estimate for Australia's Cleanaway CWY.AX by 5% to A$2.95 per share after the waste management co entered into a scheme implementation deed with EQT Infrastructure
** The brokerage assumes a 75% probability that the deal goes ahead, from 50% previously
** Morningstar adds that it will revert to its standalone valuation of A$2.50 per share if the deal does not proceed
** On Monday, CWY agreed to be bought by Swedish private equity group EQT EQTAB.ST in a deal that valued the company at A$9.3 billion ($6.48 billion), including debt
** CWY stock rose to its highest in two years on Monday after the company entered into the scheme implementation deed
** Stock is up nearly 14.7% this year, as of last close
(Reporting by Tejas Harish in Bengaluru)