Atlas Arteria independent directors recommend reject offer

Atlas Arteria’s independent directors continue to unanimously recommend that shareholders reject the hostile takeover offer from IFM Global Infrastructure Fund (IFM GIF) through its subsidiary, Diamond Infraco 1 Pty Ltd. The offer, which values each ALX security at $5.10, has been extended to 7 July 2026, following the bidder’s acquisition of more than 50% of voting power in the company.

The independent directors have reiterated their position in multiple supplementary statements, emphasizing that the offer is not in the best interests of shareholders. An independent expert report commissioned by Atlas Arteria concluded that the offer is neither fair nor reasonable. Shareholders who wish to follow the directors’ recommendation need only ignore all communications from the bidder and take no action.

Atlas Arteria owns and operates toll road assets in France, Germany, and the United States, including the Chicago Skyway and Warnow Tunnel. The company has also outlined plans to target distributions of 60 cents per security within 12 months after the offer period ends. Shareholders who remain uncertain are advised to seek independent financial or legal advice before making a decision.