EQT Infrastructure Offers A$6.9 Billion to Acquire Cleanaway

EQT Infrastructure has offered to acquire Cleanaway Waste Management Ltd. in a cash deal valuing the Australian company at approximately A$6.9 billion ($4.9 billion). The proposal offers shareholders A$3.13 per share, which represents a 32% premium over the closing price from Wednesday.

The Cleanaway board intends to recommend that shareholders accept the offer. To facilitate a binding agreement, the board has granted EQT up to nine weeks of exclusive access to the company's financial records. This current bid follows a previous offer from EQT of A$3 per share.

Cleanaway operates the largest network of collection and recycling facilities in Australia and employs more than 10,000 people. In a separate but simultaneous move, EQT is pursuing the acquisition of Perpetual Ltd., an Australian investment firm. Perpetual is currently negotiating with the Swedish firm to secure a higher price than a previous offer of A$2.6 billion.