Good morning.
IFM Investors has run Atlas Arteria off the road, crossing the 50% mark to seize control of the toll operator, with board chair Debbie Goodin already under pressure to resign and IFM expected to push for her exit.
Capital Brief’s Brandon How reported that critics say the directors were outmanoeuvred in a hostile bid telegraphed so plainly they should have seen it coming. Harvest Lane and VanEck are among those on the record, and not mincing words.
| ▲ | ASX 200 | 8,808 | +0.24% |
| ▼ | ASX futures | 8,780 | -0.16% |
| ▼ | S&P 500 | 7,358 | -0.10% |
| ▼ | NASDAQ | 25,477 | -0.43% |
| ▼ | AUD/USD | 0.69 | -0.27% |
| ▼ | Bitcoin | 60,579 | -2.92% |
ASX 200 as at market close. Bitcoin in USD.
Market movers
Shares in Xero rose on Wednesday after Citi said the accounting software group’s recent price increases in the UK pointed to confidence in its market position.
Road kill