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Covanta going private at $20.25 per share +5
Covanta has announced that it is being taken private by EQT infrastructure for $20.25 per share. The deal is expected to close in the fourth quarter.
I'm glad the company was able to get a deal like this, but somewhat surprised that the U.K. operations are not being split out. In any case, this represents another sign post on the road to the eventual deprecation of American markets. I expect many companies, like BGC, will eventually do similar deals and all that in the end there will be little choice left for income and value investors in domestic companies. That will take years, though. I'll continue to cover Covanta until the deal closes and the section goes public.