(Updates with the stock movement in the headline and last paragraph.)
Cleanaway Waste Management (ASX:CWY) said EQT Infrastructure remains committed to pursuing its proposed acquisition of 100% of the company's shares at no less than the indicative offer price following its due diligence review, according to a Monday filing with the Australian bourse.
The hard exclusivity period has now ended, with EQT continuing its confirmatory due diligence as both parties work towards finalizing an implementation deed, per the filing.
Cleanaway Waste Management noted that there is no guarantee the proposal will lead to a binding transaction and that shareholders are not required to take any action at this stage, the filing added.
The company's shares gained nearly 4% in recent Monday trade.