Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.