Atlas Arteria Continues to Recommend that Shareholders Reject Off-Market Takeover Bid

MT Newswires Live

Jun 05

Atlas Arteria (ASX:ALX) continued to recommend that shareholders reject the off-market takeover bid by Diamond Infraco, an IFM Global Infrastructure Fund subsidiary, for 100% of the stapled securities that it does not already own in the company, according to a Friday filing with the Australian bourse.

The independent directors unanimously recommend that shareholders reject the takeover offer at AU$4.75 per security and at AU$5.10 per security, the filing said.

The bidder extended the offer period by one week to June 18, but did not otherwise change the offer, per the filing.

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