MARKETS

Toxfree takeover

CLEANAWAY has entered a scheme implementation deed to acquire all Toxfree’s shares for $3.425/share in cash, valuing the waste management specialist which worked on Barrow Island at $671 million on an equity basis and $831 on an enterprise value basis.

Toxfree takeover

The offer is a 27.5% premium to Toxfree's 10-day VWAP, 28% more than its one-month VWAP and a 34.7% premium to its VWAP since the FY17 result and more than seven times the company's FY17 EBITDA.   ...

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