Covanta Holding (CVA) Stockholders Approve Proposed EQT Infrastructure Acquisition

Covanta Holding Corporation ("Covanta") (NYSE: CVA), a world leader in sustainable waste and energy solutions, announced that at a special meeting of its stockholders held today, its stockholders voted to approve the previously announced acquisition of Covanta by EQT Infrastructure ("EQT") for $20.25 per share in cash, pursuant to the Agreement and Plan of Merger dated July 14, 2021 (the "Merger Agreement").

A total of 92,719,309 shares of the Company's common stock were voted in favor of the proposal to adopt the Merger Agreement, representing approximately 69.7% of the Company's issued and outstanding shares of common stock and approximately 97.5% of the shares voted at the special meeting. The final voting results will be filed with the Securities and Exchange Commission in a Current Report on Form 8-K.

"We are pleased that Covanta stockholders have overwhelmingly voted in favor of our pending acquisition by EQT," said Michael W. Ranger, president and chief executive officer at Covanta. "For more than 30 years, Covanta has delivered excellence in sustainable waste management, incorporating a diverse asset base with a talented workforce that has set us apart as a leader in the industry. However, there is much more we can achieve. Through a collaborative partnership with EQT, we will grow and innovate our operations for the benefit of all our stakeholders as well as explore new avenues that were previously not available to us. The next phase of Covanta is bright with a like-minded partner in EQT as we both seek to build a safer, cleaner and sustainable future for all."

The acquisition is expected to be completed during the fourth quarter of calendar year 2021, subject to satisfaction of the remaining closing conditions, including the receipt of certain regulatory approvals.

You May Also Be Interested In

• Paramount Global (PARA) and Skydance are closer to a merger - CNBC
• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos