LONDON (Reuters Breakingviews) - DISPOSABLE SUBJECT. Suez is aiming a desperate garbage pail at Veolia’s 11.3 billion euro takeover bid. The French recycling and water company on Tuesday agreed to sell its Australian waste unit to local rival Cleanaway for A$2.5 billion. A multiple of roughly 13 times the division’s trailing EBITDA is broadly in line with previous deals. But it undermines Suez Chief Executive Bertrand Camus’ defence that Veolia wants to break up its Gallic rival. Suez will sell some Australian assets for A$501 million even if Veolia boss Antoine Frérot concedes to his target’s demand by raising his 18 euros per share cash bid to 22.50 euros. That is likely to frustrate Frérot as Australia is part of his plans to realise 500 million euros in annual cost savings from the merger. It’s not clear that stock market authorities will stop Suez: last week French regulators criticised its use of a poison pill mechanism but declined to impose any penalties. The scorched-earth approach may just work. (By Christopher Thompson)