Morningstar sees 50% probability of EQT's $6.6 billion Cleanaway takeover going through

** Morningstar maintains fair value estimate for Australia's Cleanaway Waste ManagementCWY.AX at A$2.80 per share

** Assumes a 50% probability of EQT Infrastructure's A$9.4 billion takeover offer going ahead

** Belives EQT's continued interest following four weeks of due diligence is 'comforting'

** If deal does not go through, Morningstar says will revert fair value estimate to A$2.50 per share

** EQT had flagged to co that it wants to proceed with the potential transaction at no less than an indicative offer price of A$3.13 per share, which is a 32% premium over closing price before the deal was known

** 9 analysts on average recommend 'buy', with median PT A$3.10 - data compiled by LSEG

**YTD, CWY shares up 2.7% as of last close of A$2.660