Atlas Arteria Shareholders Have No Reason to Wait on Proposed Acquisition Offer, IFM Global Says in Bidder's Statement

MT Newswires Live
Jun 17

Atlas Arteria (ASX:ALX) shareholders have no reason to wait and should now accept an unconditional acquisition offer from IFM Global Infrastructure Fund or sell their shares on-market if they are able to do so at AU$5.10 per security, IFM said in its eighth supplementary bidder's statement on Wednesday.

IFM reiterated that its offer price of AU$5.10 per share is best and final, and will not be raised in the absence of competing proposal.

The bidder also committed to not acquire Atlas Arteria securities at a price higher than AU$5.10 per share for at least 12 months following the offer's closing.

IFM cautioned that Atlas Arteria securities may fall materially in value following the close of its offer, which it described as superior to the alternative of waiting for a "highly uncertain" sale of the Chicago Skyway toll road in the US.

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