Bingo Industries Ltd said on Friday that a proposed A$2.29 billion ($1.77 billion) takeover by CPE Capital and Macquarie funds was yet to be finalised even as the due diligence was over.
“BINGO understands that the arrangements between CPE Capital (CPEC) and Macquarie Infrastructure and Real Assets (MIRA) remain to be finalised,” the waste management company said in a statement, adding that discussions were advanced.
Bloomberg reported on Sunday that Macquarie was nearing an agreement to buy Bingo, citing people familiar with the matter.
The report also said CPE Capital had dropped out of the talks “recently”, according to those people.
Source: Reuters.com