IFM says it will not extend offer for Atlas Arteria beyond end-June

Atlas Arteria

17/06/2026 05:34

    June 17 (Reuters) - IFM Global Infrastructure said on Wednesday that its offer for Australia's Atlas Arteria ALX.AX, which values the toll-roads operator at A$7.40 billion ($5.23 billion), will not be extended beyond June 25.
IFM, via its investment unit Diamond Infraco 1, added that there was no certainty that it would acquire any further shares in Atlas following the offer's close. 
On Monday, the toll-roads operator urged its shareholders to reject IFM's "best and final" proposal after it raised the bid to A$5.10 per share from A$4.75, saying that the bid still undervalues it.
The revised offer represented a 17.8% premium to Atlas's closing price as of April 24. 
IFM's initial offer of A$4.75 per share, made just days later, valued the firm at A$6.89 billion at the time. However, Atlas rejected the offer in May, saying the "highly conditional" offer significantly undervalued it.
The company's shares were down 0.1% at A$5.105, as of 0350 GMT. The broader benchmark index .AXJO gained 0.5%.
Atlas Arteria is a global owner, operator and developer of toll roads, with a portfolio of five assets spanning France, Germany and the United States.

($1 = 1.4160 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru; Editing by Janane Venkatraman)
 ((Keshav.SinghChundawat@thomsonreuters.com;))