Atlas Arteria Holds Near $5.10; Board Says No to IFM Bid
Atlas Arteria shares closed up 0.6% at A$5.110 on Monday after IFM Global Infrastructure Fund raised its hostile bid to A$5.10 per security. Independent directors advised shareholders to reject the offer, citing a valuation range of A$5.39 to A$6.20. The offer closes June 25 unless extended. Atlas will release a supplementary target statement next.