Augean, a specialist waste- and resource-management group in the United Kingdom, has agreed to a £341.2 million ($468 million) takeover offer from Eleia, a new company created by funds managed by Ancala Partners and Fiera Infrastructure.
According to The Wall Street Journal, the deal represents an 8.3 percent premium to a previous offer from Morgan Stanley Infrastructure Partners.
“We recognize the increase in the price offered to Augean shareholders under the offer when compared with the MSIP offer and have accordingly recommended the offer to Augean shareholders,” said Jim Meredith, chairman of Augean.
Augean serves the hazardous waste management sector, the oil and gas industry, and the nuclear and radioactives sector in the United Kingdom.
