Equity Analysis /
Australia

AU : Bingo Industries - Takeover interest

    Nathan Lead
    Nathan Lead

    Senior Analyst - Infrastructure & Utilities

    Follow
    CGS-CIMB
    19 January 2021
    Published byCGS-CIMB

    BIN has received a takeover offer from CPE Capital. We lift our target price to $3.50/share to align with the indicative offer price. HOLD retained. While on the face of it the bid looks attractive, this attraction dissipates assuming BIN is able to generate its EBITDA target. There is potential for another bidder to emerge.