Atlas Arteria Says Takeovers Panel Declines Interim Order to Block IFM Bidder's Statement

MT Newswires Live

05/11

Atlas Arteria (ASX:ALX) said the Australian Takeovers Panel has declined its request for an interim order to restrain Diamond Infraco 1, a unit of IFM Global Infrastructure Fund, from dispatching its bidder's statement in its current form, pending the final determination of the panel proceedings, according to a Monday Australian bourse filing.

The filing said the panel is still considering whether to conduct proceedings.

Atlas Arteria's board recommended on May 6 that shareholders reject the unsolicited takeover offer from IFM, saying it materially undervalues the company, while also filing an application with the Takeovers Panel seeking to block IFM Global Infrastructure Fund from dispatching a bidder's statement related to its offer.

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