SYDNEY: Australia’s Bingo Industries said it had received a A$2.29bil (US$1.8bil) cash buyout offer from a consortium led by private equity firm CPE Capital, sending the waste management firm’s shares to an 11-month high.
The offer comes at a time when the government is injecting stimulus into the recycling and construction sectors and pushing infrastructure investment as the economy reopens from coronavirus-enforced lockdowns.
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