Atlas Arteria rejects IFM Global 5 billion dollar bid
Australian toll operator Atlas Arteria has rejected a buyout proposal from IFM Global Infrastructure Fund valued at 6.89 billion Australian dollars. The company stated the offer materially undervalues its business and described the timing of the bid as opportunistic.
Xurve View
Xurve View
Atlas Arteria rejected a A$6.89 billion ($4.95 billion) takeover bid from IFM Global Infrastructure Fund on Wednesday morning. The offer sought all shares in the Australia toll operator not already held by the fund. This rejection signals that infrastructure boards are resisting valuations they perceive as timed to exploit temporary market lows.