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Cleanaway Waste Management Receives Indicative Takeover Bid From EQT Infrastructure

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Cleanaway Waste Management (ASX:CWY) received a conditional, non-binding indicative proposal from EQT Infrastructure to acquire all of the company's shares through a scheme of arrangement at AU$3.13 apiece, according to a Thursday filing with the Australian bourse.

The board agreed to give EQT Infrastructure nine weeks of exclusive due diligence and negotiate a scheme implementation deed to agree a binding transaction, the filing said.

The directors intend to recommend that shareholders vote in favor of the scheme of arrangement in the absence of a superior proposal and subject to an independent expert continuing to conclude that the proposal is in their best interests.

The company maintained its fiscal 2026 underlying earnings before interest and taxes (EBIT) guidance of roughly AU$470 million, per the filing.

It also expects to deliver fiscal 2027 underlying EBIT of AU$500 million to AU$530 million.

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