EQT has now entered into a SID with Australia’s largest garbage and waste disposal play Cleanaway Waste Management (CWY AU), at A$3.095/share, a 32.1% premium to undisturbed.
Never any doubt right? Well, not quite. A three-peat of notices delaying firm terms; plus last Friday’s price action all-but suggesting someone (s) knew something was amiss.
Timing from here: Scheme Meeting to be held before the end of Feb 2027, and implementation by the end of March 2027.
Trade:
In the wake of today’s 20% aggressive pop, this is trading tight at a gross/annualised spread of 4.6%/10.5%, not including franking credits (for those who can take advantage).
Arguably, priced to complete.