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ACCC Approves Cleanaway’s Acquisition of Contract Resources

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ACCC Approves Cleanaway’s Acquisition of Contract Resources

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Cleanaway Waste Management ( (AU:CWY) ) has provided an update.

The Australian Competition and Consumer Commission (ACCC) has announced it will not oppose Cleanaway Waste Management Limited’s proposed acquisition of Contract Resources Group Pty Ltd. The ACCC’s review found that the acquisition is unlikely to substantially lessen competition in the industrial services or waste management sectors, as the merged entity will continue to face competition from other suppliers. Furthermore, the potential for leveraging Contract Resources’ strong position in specialist industrial services into Cleanaway’s waste management offerings is deemed unprofitable due to the availability of alternative options for customers.

The most recent analyst rating on (AU:CWY) stock is a Buy with a A$3.25 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 an Australian-based company specializing in recycling, waste management, and industrial services. It is one of the largest waste management companies in Australia, providing services such as high-pressure water services, vacuum loading, non-destructive digging, and more. Contract Resources Group Pty Ltd, which Cleanaway proposes to acquire, is a specialist provider of industrial services for complex and high-value assets in the energy and oil and gas sectors.

Average Trading Volume: 6,332,247

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$6.07B

Find detailed analytics on CWY stock on TipRanks’ Stock Analysis page.

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