Cleanaway Waste Management (ASX:CWY) said EQT Infrastructure has given written reconfirmation under the transaction process deed, following its initial confirmation for its confidential, non-binding indicative proposal dated Aug. 3 to acquire Cleanaway by way of a scheme of arrangement, according to a Monday Australian bourse filing.
The company said the reconfirmation states that nothing has arisen in EQT's due diligence review likely to cause it not to proceed on the terms of the proposal, and that EQT does not intend to make any variations that would make the deal less favourable to Cleanaway shareholders.
EQT has also confirmed its commitment to proceed for no less than the indicative offer price and to enter into an implementation deed on or before the expiry of the exclusivity period, with EQT continuing to advance confirmatory due diligence as both parties work toward negotiating and executing an implementation deed, the filing added.
