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TOX - Tox Free Solutions News Story

A$3.42 0.0  0.0%

Last Trade - 11/05/18

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £282.3m
Position in Universe th / 1911

Australia's Cleanaway Waste Management to buy rival Tox Free Solutions

Sun 10th December, 2017 10:19pm
Dec 11 (Reuters) - Cleanaway Waste Management  CWY.AX  said 
on Monday it would buy smaller rival Tox Free Solutions  TOX.AX  
for A$3.425 per share in cash, valuing Tox at A$671 million 
($503.72 million) on a diluted basis.  
    The Cleanaway offer is at a 20.6 percent premium to Tox's 
closing level on Friday of A$2.84. Under the deal, Tox 
shareholders will be entitled to receive an interim dividend of 
A$0.05 per share in fiscal 2018, the company said in a 
statement.  
    In a separate statement, directors of Tox Free said they 
unanimously recommended that shareholders vote in favour of the 
Cleanaway offer. 
     
 
($1 = 1.3321 Australian dollars) 
 
 (Reporting by Susan Mathew in Bengaluru; Editing by Peter 
Cooney) 
 ((susan.mathew@thomsonreuters.com; +91-80-6749-1130; Reuters 
Messaging: susan.mathew.thomsonreuters.com@reuters.net)) 
 
Keywords: TOX FREE M&A/CLEANAWAY WASTE
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