Cleanaway rejects suggestion of Seven takeover after shares jump 15%

Cleanaway Waste Management Ltd (ASX:CWY) has quelled speculation of it being taken over by Seven Group Holdings Ltd (ASX: SVW), after media speculation on the acquisition sent the waste disposal giant’s shares soaring 15 percent to $3 – the highest in several years.

The buzz was sparked by a Bloomberg article which suggested that Seven had been seeking financing for a takeover proposal.

In a statement issued to the market on Wednesday, Cleanaway claimed that, it was ‘not in any discussions with SGH (Seven Group Holdings) in relation to any form of corporate transaction or otherwise, nor has it received an approach or offer from SGH’.

Cleanaway shares have been trading at $3.10c.