ACCC raises concerns about Dial-a-Dump acquisition

Company News

by Rachael Jones

The ACCC has released a statement of issues raising concerns about Bingo's (ASX:BIN) acquisition if Dial-a-Dump.

Both companies supply building and demolition waste collection and processing services to the Greater Sydney area.

ACCC chairman Rod Sims says post acquisition Bingo will be the largest B and D waste collector and processor in Sydney.

They are concerned about the acquisition in relation to processing, landfill and collections.

The ACCC invites submissions from interested parties.

The final decision is scheduled for 21 February 2019.

Shares in Bingo (ASX:BIN) are trading 8.81 per cent lower to $2.07.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.