Yellen proposes wide-ranging corporate tax changes to pay for infrastructure

finance.yahoo.com
3 min read
standard
U.S. Treasury Secretary Janet Yellen on Wednesday presented a corporate tax hike plan linked to President Joe Biden's $2.3 trillion infrastructure...
Bloomberg

(Bloomberg) -- Suez SA agreed to sell its Australian business to Cleanaway Waste Management Ltd., with completion conditional on further talks about its own takeover by Veolia Environnement SA.Suez signed a deal to sell its recycling and recovery business in Australia to Melbourne-based Cleanaway for A$2.5 billion ($1.9 billion), the French water and waste-treatment firm said in a statement Tuesday. Under the terms, Suez can terminate the deal by May 6 if it gets taken over by Veolia, Cleanaway said in a filing.The arrangement leaves room for Suez to maneuver its own fate in its seven-month battle to convince shareholders that Veolia's takeover offer is too low. Veolia bought almost 30% of Suez in October with a plan to absorb the whole company and create a new global leader in the sector."We're continuing to seek a friendly, negotiated solution with Veolia" with the aim of finding a solution by April 20, Suez Chairman Philippe Varin said on a conference call Tuesday. The valuation of the Suez asset sales, including in Australia, show that Veolia's takeover offer, which it has resolutely maintained since October, "isn't sufficient," he said.Veolia said in a statement that Suez's agreement to…
Reuters
Read full article