Waste firm Biffa agrees £1.3 billion US takeover deal

The London-listed waste firm said Bears Bidco, a new company run by Energy Capital Partners (ECP), will pay 410p per share for the company.

It comes three months after Biffa told shareholders it was likely to accept a £1.4bn bid from ECP.

On Tuesday, Biffa chairman Ken Lever said: “Whilst being lower than the proposal previously announced on June 7, it is the Biffa board’s view that this offer represents a compelling opportunity, particularly in a weakening economic environment, for shareholders to realise, in cash and with certainty, the potential for future value creation.”