BINGO Industries, a waste management firm based in Australia, has accepted a A$2.3 billion ($1.79 billion) buyout offer from Macquarie Infrastructure and Real Assets (MIRA), according to Reuters.
BINGO owns a fleet of more than 350 vehicles for the collection of commercial waste and offers a wide range of solutions for any type of waste — ranging from hazardous waste and contaminated soils to cardboard and concrete, according to the firm’s website.
Reuters reports BINGO shareholders will have the option to collect A$3.45 ($2.68) per share in cash or a mixture of cash and shares valued at A$3.30 ($2.56) per share. The latter scheme would offer shareholders A$1.32 in cash minus any special dividend, and the remainder in shares of an unlisted company that will own BINGO.
According to sources with knowledge of the matter, BINGO explored alternatives, including standalone value creation opportunities and alternative bidder interest, but ultimate
