Atlas Arteria's Sixth Supplementary Target's Statement on IFM Takeover Bid
Key points
- Atlas Arteria recommends shareholders reject IFM's offer
- IFM has acquired over 50% voting power in Atlas Arteria
- Chicago Skyway sale process paused
- OTPP Put Option extinguished for $100 million
Full summary
Atlas Arteria has issued its Sixth Supplementary Target's Statement in response to IFM's off-market takeover bid. The Independent Directors continue to recommend that shareholders reject the offer, which they believe undervalues the company. IFM has acquired over 50% voting power in Atlas Arteria. The Chicago Skyway sale process has been paused, and the OTPP Put Option has been extinguished for $100 million, providing certainty for shareholders regarding future funding needs.
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