Biffa has announced a possible offer of 445p in cash from Energy Capital Partners (ECP) which the Board is minded to recommend, if firmed up, and ECP is now undertaking due diligence. Biffa's evaluation is influenced by the disclosure of a new landfill tax risk. We believe it is likely that the ECP offer will be firmed up and we doubt that there will be a competing offer. Consequently, we raise our Target Price to 445p from 400p and take our recommendation to Neutral from Buy. We note that the i ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Biffa - ECP possible bid – changing TP to 445p, rec to Neutral
- Published:
07 Jun 2022 -
Author:
Colin Smith -
Pages:
3
Biffa has announced a possible offer of 445p in cash from Energy Capital Partners (ECP) which the Board is minded to recommend, if firmed up, and ECP is now undertaking due diligence. Biffa's evaluation is influenced by the disclosure of a new landfill tax risk. We believe it is likely that the ECP offer will be firmed up and we doubt that there will be a competing offer. Consequently, we raise our Target Price to 445p from 400p and take our recommendation to Neutral from Buy. We note that the i ....