Cleanaway Waste Management offers a fair entry price at $2.70 for longer-term investors.
Update regarding Citywide Waste acquisition
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Cleanaway Waste Management Limited (ASX:CWY) notes the Statement of Issues published by the
ACCC earlier today which sets out its preliminary competition concerns in relation to the proposed
acquisition of Citywide Waste.
Cleanaway has been working closely with the ACCC in relation to its review of the acquisition of
Citywide Waste and is currently reviewing the matters raised by the ACCC in the Statement of
Issues. Cleanaway will look to address the concerns raised in the Statement of Issues in due course
and remains confident that the proposed acquisition will ultimately be approved by the ACCC.
Cleanaway notes that the ACCC currently expects to make a decision in relation to the proposed
acquisition on 13 February 2025. The proposed acquisition is subject to a number of conditions
precedent, including ACCC approval.
Cleanaway continues to expect that completion of the acquisition will occur before the end of FY25.
The proposed acquisition will not make a significant contribution to Cleanaway’s EBIT in FY25.
