By David Winning SYDNEY Waste manager Bingo Industries Ltd. said it is agreed to a takeover offer from Macquarie Infrastructure and Real Assets that values its equity at around 2.3 billion Australian dollars (US$1.76 billion). Bingo said its shareholders have the option to receive either A$3.45 in cash for each share that they own, or a mix of cash and stock in an unlisted entity to be set up by MIRA. It represents a 26% premium to Bingo s share price prior to its January 19 announcement that it had become a takeover target. The company said it plans to declare a special dividend of up to A$0.117 per share before the takeover completes to enable its shareholders to take advantage of remaining franking benefits.
Australia s Bingo Industries
said on Tuesday it had received a A$2.29 billion
cash buyout offer from a consortium led by private equity firm
CPE Capital, sending the waste management firm s shares to. | January 19, 2021