Atlas Arteria Bidder Unlikely Trying to Acquire Company Outright -- Market Talk
Dow Jones
Apr 28
2352 GMT - Terms of IFM's offer for Atlas Arteria suggest it is not a negotiation to acquire the company outright, says Macquarie. Instead, it's a means to get more than the 3% allowed under so-called 'creep' provisions in the Australian takeover code, the bank contends. IFM is offering A$4.75/security in cash. But this could rise to A$5.10/security if IFM secures a relevant interest of 45% or more before the offer closes. "The bid appears opportunistic with IFM having a best and final statement included," Macquarie says. It doesn't see a counter-bidder emerging, given IFM already owns some 35% of Atlas Arteria's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 27, 2026 19:52 ET (23:52 GMT)
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