IFM's Lack of Bid Engagement Puzzles Atlas Arteria Bull -- Market Talk

Dow Jones

05/04

2207 GMT - IFM's decision not to engage with Atlas Arteria before making a takeover offer puzzles Jefferies. 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. It already owns some 35% of Atlas Arteria's stock. Analyst Anthony Moulder says it's an approach made only by those that are hostile from the outset. "We can appreciate IFM's patience has been tested given the performance of the security price of Atlas Arteria over the last few years, starting with the raising for the acquisition of the majority of Chicago Skyway," Jefferies says. "But the lack of engagement is perplexing." It views the offer as opportunistic. It's below Jefferies's A$5.43 price target and doesn't represent a premium for control. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 03, 2026 18:07 ET (22:07 GMT)

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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. It already owns some 35% of <a href=\"https://laohu8.com/S/ALX.AU\">Atlas Arteria</a>'s stock. Analyst Anthony Moulder says it's an approach made only by those that are hostile from the outset. \"We can appreciate IFM's patience has been tested given the performance of the security price of Atlas Arteria over the last few years, starting with the raising for the acquisition of the majority of Chicago Skyway,\" Jefferies says. \"But the lack of engagement is perplexing.\" It views the offer as opportunistic. It's below Jefferies's A$5.43 price target and doesn't represent a premium for control. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 03, 2026 18:07 ET (22:07 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IFM's Lack of Bid Engagement Puzzles Atlas Arteria Bull -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIFM's Lack of Bid Engagement Puzzles Atlas Arteria Bull -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-04 06:07</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2207 GMT - IFM's decision not to engage with <a href=\"https://laohu8.com/S/MAQAF\">Atlas Arteria</a> before making a takeover offer puzzles Jefferies. 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. It already owns some 35% of <a href=\"https://laohu8.com/S/ALX.AU\">Atlas Arteria</a>'s stock. Analyst Anthony Moulder says it's an approach made only by those that are hostile from the outset. \"We can appreciate IFM's patience has been tested given the performance of the security price of Atlas Arteria over the last few years, starting with the raising for the acquisition of the majority of Chicago Skyway,\" Jefferies says. \"But the lack of engagement is perplexing.\" It views the offer as opportunistic. It's below Jefferies's A$5.43 price target and doesn't represent a premium for control. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 03, 2026 18:07 ET (22:07 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7090","symbol_name":"公路与铁路","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2632865789","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2632865789","pubTimestamp":1777846020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2207 GMT - IFM's decision not to engage with Atlas Arteria before making a takeover offer puzzles Jefferies. 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. It already owns some 35% of Atlas Arteria's stock. Analyst Anthony Moulder says it's an approach made only by those that are hostile from the outset. \"We can appreciate IFM's patience has been tested given the performance of the security price of Atlas Arteria over the last few years, starting with the raising for the acquisition of the majority of Chicago Skyway,\" Jefferies says. \"But the lack of engagement is perplexing.\" It views the offer as opportunistic. It's below Jefferies's A$5.43 price target and doesn't represent a premium for control. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7090":"公路与铁路","AFH":"Atlas Financial Holdings Inc.","ALX.AU":"ATLAS ARTERIA"},"translate_title":"IFM缺乏投标参与令Atlas Arteria Bull感到困惑——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALX.AU":0.9,"AFH":1.5},"content_text":"2207 GMT - IFM's decision not to engage with Atlas Arteria before making a takeover offer puzzles Jefferies. 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. It already owns some 35% of Atlas Arteria's stock. Analyst Anthony Moulder says it's an approach made only by those that are hostile from the outset. \"We can appreciate IFM's patience has been tested given the performance of the security price of Atlas Arteria over the last few years, starting with the raising for the acquisition of the majority of Chicago Skyway,\" Jefferies says. \"But the lack of engagement is perplexing.\" It views the offer as opportunistic. It's below Jefferies's A$5.43 price target and doesn't represent a premium for control. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 03, 2026 18:07 ET (22:07 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}