"Suez rebuffs Veolia's assurances it will not make hostile bid"

It is just so difficult to make money out of the water business, and out of trash as well, unless you're the Mafia.*
From Reuters:

French utility Suez SEVI.PA on Sunday rejected assurances from rival Veolia VIE.PA that it will not make a hostile bid for the whole company after closing in on a deal to buy a 29.9% stake from power group Engie ENGIE.PA.

Veolia VIE.PA said it would not launch a hostile bid for the remaining shares in Suez and that any bid for the rest of the shares would require approval from Suez's board.

Veolia had moved closer to a deal to buy Engie’s 29.9% stake in Suez on Wednesday, in a prelude to a full takeover bid and marking a breakthrough after weeks of hostilities between the two utilities.

Veolia had removed certain conditions and clauses from the previous outline of its agreement with Engie to persuade the different parties that it would seek a consensual deal.

But in a letter from Suez Chairman Philippe Varin to Veolia’s boss, which was made public, Varin said the Suez board considered Veolia’s approach as hostile....

....MORE

*On water, lots of links in December 2019's: 

Trying to Make a Buck Off Water Investments

Water is tough.
Here's our introduction to 2014's "A Look at the World's First Water-focused Hedge Fund"

Since the first Earth Day in April 1970 and more importantly since the establishment of the EPA in December of that year, folks have been trying to make money out of water in the U.S..
Put simply, the returns have not been market-beating.

Because so much of the opportunity was my-little-crony stuff, at the whim of politicians, there was no consistency of growth at a time when other portfolio investments offered very competitive comparisons.
The alternative was to own the cash flow, private equity style, but unless one felt a passion for grit chambers and sludge pans it was pretty pedestrian, utility type ROI.

In fact the most reliable water investment in the U.S. has probably been York Water Company of York PA.
They've been paying dividends for 199 consecutive years and just announced their 575th divi.
The announcement carries the boilerplate "This release contains forward-looking statements".

And today's story from Nanalyze:....

And on solid waste:
June 2020
"Putin’s Inner Circle Corners $30Bln Garbage Reform Market"

Talkin' Trash and Makin' Cash: Crime and Illegal Landfills in Scotland
Why the Mafia Loves Garbage
Talking Trash and Making Cash: FT Alphaville On The Garbage Beat 

....The "Talking Trash...." formulation is not original to me.
I first heard it from a mafia guy years ago as he was pitching the remunerative opportunities I would be afforded by portfolio or direct exposure to the municipal solid waste removal businesses serving the City of New York.

For folks looking for the philosophical underpinnings of waste we have on offer "Waste and Recycling: 'In the flow of things'" which links to the indispensable Discard Studies....