CVA - Covanta to be taken private by EQT Infrastructure for $20.25/share

Covanta Holding (CVA) +7.6% pre-market after EQT Infrastructure agrees to acquire the waste-to-energy company for $20.25/share, in a deal valued at $5.3B including the assumption of net debt obligations.The takeover price represents a 37% premium to the stock price on June 8, the day before initial deal speculation in the media."EQT shares our vision for a safer, cleaner and more prosperous future through sustainable waste management thereby ensuring no waste is ever wasted," Covanta President and CEO Michael Ranger says.Covanta announced in October that it was starting a strategic review of its operations and capital structure.

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Covanta to be taken private by EQT Infrastructure for $20.25/share