IFM Investors raises Atlas Arteria takeover offer to $7.4b as position exceeds 45%
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The news: IFM Investors’ takeover offer for Atlas Arteria has increased to $5.10 per share from an initial offer price of $4.75, indicating the bidder’s position in the toll road operator has exceeded 45%.
The numbers: The increased offer price is a 17.78% premium on the close price on 24 April 2026, the last trading day before the announcement of the offer.
It lifts the proposed valuation of the company from $7 billion to around $7.4 billion.
The context: The Atlas Arteria board has previously recommended that shareholders reject the takeover offer with an independent expert report by financial and risk advisory firm Kroll putting the group’s valuation at between $5.39 and $6.20 per share, or between $7.8 billion and $9 billion overall.
IFM Investors said, in a seventh supplementary bidder’s statement, that the new offer price implies a value for the Chicago Skyway toll road in line with the 2022 acquisition price on a cash certain basis.
The revised offer is IFM’s best and final. It will close on 25 June at 7:00pm AEST.
The source: ASX
