Macquarie is nearing an agreement to buy Suez SA’s UK waste business from Veolia Environment for €2.5bn ($2.5bn). While Veolia is in the process of acquiring its smaller French rival Suez, antitrust concerns of reduced competition and a rise in prices of water and waste treatment services in the UK have prompted the firm to put Suez’s UK segment up for sale. While the deal is in its late stages and may go through as early as Monday, an investor group led by Meridiam SAS and Global Infrastructure Partners could be an interested party and match Macquarie’s offer for Suez’s UK unit.

Macquarie’s 3.624% 2030s are trading at 87.8, down by 1.07 points to yield 5.57%.

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