ACCC Approves Cleanaway’s Acquisition of Citywide Waste

The latest announcement is out from Cleanaway Waste Management ( (AU:CWY) ).

The Australian Competition and Consumer Commission (ACCC) has decided not to oppose Cleanaway Waste Management Limited’s proposed acquisition of Citywide Waste, a business owned by the City of Melbourne Council. The ACCC’s investigation concluded that the acquisition would not significantly reduce competition in Melbourne’s putrescible waste disposal services market. Larger waste collection customers can still divert waste to other facilities, and the acquisition is unlikely to impact customers who prefer the Dynon Road transfer station due to its proximity to the Melbourne CBD. The ACCC expects that rival landfills and transfer stations will continue to compete with Cleanaway post-acquisition.

The most recent analyst rating on (AU:CWY) stock is a Buy with a A$3.15 price target. To see the full list of analyst forecasts on Cleanaway Waste Management stock, see the AU:CWY Stock Forecast page.

More about Cleanaway Waste Management

Cleanaway Waste Management Limited is one of the largest waste management companies in Australia, providing recycling, waste management, and industrial services. The company is vertically integrated across waste collections, processing, and disposal services, with operations in all states and territories of Australia. In Melbourne, Cleanaway operates a network of putrescible transfer stations and one of the largest landfills, the Melbourne Regional Landfill.

Average Trading Volume: 5,974,455

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$6.05B

For detailed information about CWY stock, go to TipRanks’ Stock Analysis page.