BUZZ - Shares of Australia's Cleanaway Waste Management rise; Morningstar estimates a 50% chance of acquisition by EQT

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September 22 - **Australia Cleanaway Waste Management (CWY.AX) shares rose as much as 1.1% to 2.69 AUD

** Morningstar maintains a fair value estimate of 2.80 AUD per share for the waste management company

** There is a 50% probability that the 9.4 billion AUD acquisition offer by EQT Infrastructure (link) will go through

** EQT retaining its interest after four weeks of due diligence is described as "reassuring"

** If the deal does not go ahead, Morningstar says it will lower its fair value estimate to 2.50 AUD per share

** EQT previously told the company (link) it is seeking to pursue the potential deal at an indicative offer price of not less than 3.13 AUD per share, which is a 32% premium over the closing price before the announcement

** The average rating among nine analysts is "Buy" with a median target price of 3.10 AUD—data compiled by LSEG

** So far this year, CWY shares have risen more than 3%

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