Atlas Arteria's (ASX:ALX) shares inched up 0.1% in recent trading on Wednesday after it said in a filing late on Tuesday that Australia's Takeovers Panel received an application from a unit of IFM Global Infrastructure Fund, regarding the affairs of Atlas Arteria and Atlas Arteria International, which are the subject of an off-market takeover bid by IFM Global.

IFM Global holds a 34.48% staje in Atlas Arteria and currently has two nominee directors on the Atlas Arteria board. It is seeking to acquire 100% of the stapled securities in Atlas Arteria, which it does not already own. Atlas Arteria's independent directors decided to recommend that securityholders reject the offer.

IFM Global submitted that it had no knowledge before the May 6 disclosure that Atlas Arteria had given the right of first offer notice in respect of its interest in Chicago Skyway.

IFM Global is seeking final orders to the effect that Atlas Arteria immediately discloses to the market all of the information identified in the application in relation to the right of first offer, the potential sale of its interest in Chicago Skyway, and the put option in favor of Ontario Teachers, as well as that Atlas Arteria not dispose of any part of its 66.67% interest in Chicago Skyway during the offer period, without having first provided the applicant with at least 14 days' written notice of that proposed disposal.