News: BIN UPDATE 1-Australia's Bingo Industries to be bought by Macquarie for $1.8 bln

(Adds details on the offer, background on deal, sector)

April 27 (Reuters) - Bingo Industries (BIN) said on Tuesday it had agreed to be acquired by funds managed by Macquarie Group (MQG) for A$2.3 billion ($1.79 billion) three months after the waste management firm received the buyout proposal.

The deal had earlier also included private equity firm CPE Capital, which reportedly dropped the takeover recently.

The offer comes at a time when the Australian government is injecting stimulus into the recycling and construction sectors and pushing infrastructure investment as the economy reopens from coronavirus-induced lockdowns.

Bingo's investors will have the option to receive either A$3.45 per share in cash for each unit held or a mix of cash and unlisted stock alternative, it said in a statement.

The company also intends to declare a fully franked special dividend of up to A$0.117 per share before the deal is completed. ($1 = 1.2824 Australian dollars)