Toxfree Nears Sale Completion as Shareholders Approve Transaction With Cleanaway
No-moat Toxfree has announced that it has received approval from more than 99% of shareholders to proceed with the scheme of arrangement under which Cleanaway Waste Management will acquire the business. The Federal Court will weigh in on May 10, 2018, and assuming approval, Toxfree’s shares will be suspended from trading on May 11.We maintain our $3.425 per share fair value estimate, matching the all-cash acquisition offer from Cleanaway. Upon completion of the scheme, shareholders will receive...
Tox Free Solutions is engaged in the provision of industrial cleaning and waste management. Co. has three main business segments: Waste Services, Industrial Services, and Technical and Environmental Services. The Waste Services segment includes the collection, resource recovery, recycling and disposal of solid, industrial, municipal and commercial wastes. The Industrial Services segment provides onsite industrial cleaning to the oil and gas, mining, heavy manufacturing, civil infrastructure, municipal and utilities sectors. The Technical and Environmental Services segment comprises a national network of liquid and hazardous waste management facilities throughout Australia.
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