Atlas Arteria (ASX:ALX) said the Australian Securities and Investments Commission granted relief to potentially extend the offer period in IFM Global Infrastructure Fund's proposed acquisition of Atlas, according to a Wednesday filing with the Australian bourse.

In April, Atlas Arteria received an unsolicited proposal from IFM to acquire all the remaining securities it does not already own at AU$4.75 per share in cash, with the price due to increase to AU$5.10 per share if IFM obtains at least a 45% relevant interest before the offer closes.

Under the granted relief, the offer period will be extended by 14 days if, within the last seven days of the period, IFM's relevant interest in Atlas increases to 45% or more and the price has not already been raised to AU$5.10.