Australia's Cleanaway Waste Management rises; Morningstar sees 50% chance of EQT buyout
BUZZ-Australia's Cleanaway Waste Management rises; Morningstar sees 50% chance of EQT buyout Updates
** Shares of Australia's Cleanaway Waste Management CWY.AX rise as much as 1.1% to A$2.69
** Morningstar maintains fair value estimate for the waste management firm at A$2.80/share
** Assumes a 50% probability of EQT Infrastructure's A$9.4 billion takeover offer going ahead
** Believes EQT's continued interest following four weeks of due diligence is 'comforting'
** If deal does not go through, Morningstar says will revert fair value estimate to A$2.50/share
** EQT had flagged to co that it wants to proceed with the potential transaction at no less than an indicative offer price of A$3.13/share, a 32% premium over closing price before the deal was known
** 9 analysts on average recommend 'buy', with median PT A$3.10 - data compiled by LSEG
**YTD, CWY up more than 3%
(Reporting by Nichiket Sunil & Aamir Sheik Khalid in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com; Aamir.SheikKhalid@thomsonreuters.com))
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