IFM Investors’ hostile bid spurned by Atlas Arteria shareholder

ClearBridge Investments, a long-term shareholder in Atlas Arteria, says it will reject IFM Investors’ $6.9 billion hostile takeover offer because it undervalues the company’s assets.

Andrew Chambers, portfolio manager at Melbourne-based ClearBridge who specialises in infrastructure, said IFM’s offer of $4.75 per share in cash wasn’t attractive and that he expected the tollroad group’s shares to benefit from ongoing inflation and rebound.

Source: https://www.afr.com/companies/infrastructure/ifm-investors-hostile-bid-spurned-by-atlas-arteria-shareholder-20260511-p5zvme