IFM Global proposes 'best and final' bid for Australia's Atlas Arteria of $5.2 billion

Atlas Arteria

15/06/2026 01:48

    June 15 (Reuters) - IFM Global Infrastructure Fund sweetened its takeover bid for Australia's Atlas Arteria ALX.AX on Monday to A$7.40 billion ($5.24 billion), calling the revised offer its "best and final" proposal and saying it would not be increased unless a competing bid emerges.
IFM increased its offer for Atlas to A$5.10 per share from A$4.75, a month after Atlas rejected the earlier bid, saying it was opportunistic and materially undervalued the company.
The new offer price represents a 17.8% premium to Atlas's last close when the bid was first announced in late April. 
Shares of Atlas were up 0.4% at A$2.82 as of 0015 GMT, while the broader benchmark index was up 1.3%. 
In late May, the toll operator said an independent expert's report also found the offer was neither fair nor reasonable. 
In its statement on Monday, IFM said Atlas' independent directors' claims that additional value can be created through asset sales are disingenuous.
     
($1 = 1.4130 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru; Editing by Rashmi Aich)
((Shruti.Agarwal@thomsonreuters.com;))