Vik Bansal, the chief executive of the $2.5 billion waste management company Cleanaway, says it will take at least two years to “fully digest” rival Toxfree as it adds an extra 895 waste collection vehicles and expands in medical waste management with a buy-out.
Cleanaway, which is already Australia’s biggest waste management company with more than 3,000 rubbish collection vehicles and 5,000 employees, on Monday made a $3.425 per share cash bid for Toxfree, which has been unanimously recommended by the Toxfree board of directors.
It values the Toxfree’s equity at $671 million and represents an enterprise value of $831 million. The deal is expected to be finalised in the June quarter of 2017-18 and is being done under a sche…
Read the full article at: http://www.afr.com/business/health/cleanaway-ceo-twoyear-digestion-plan-for-toxfree-20171210-h028wi