EQT to Acquire Covanta for $20.25 a Share
14 Juillet 2021 - 2:45PM
Dow Jones News
By Matt Grossman
EQT AB's infrastructure arm will acquire Covanta Holding Corp.
for $20.25 a share, the companies said Wednesday.
The transaction represents a value of about $5.3 billion, EQT
said.
Covanta, based in Morristown, N.J., operates more than 40
waste-to-energy facilities that convert municipal trash into
electricity. The company's management team is expected to remain on
the job following the merger, Covanta said.
Covanta Chief Executive Michael Ranger described the deal as "an
excellent outcome of our strategic review." The deal is expected to
close by the end of the year.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 14, 2021 08:40 ET (12:40 GMT)
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