Atlas Arteria (ALX AU): IFM Ups Stake As Shares Waver
Back in June 2022, US/Europe toll-road play Atlas Arteria (ALX AU) (ATLIX) rejected IFM Global Infrastructure's request for limited company information, before deciding whether to submit a non-binding indicative proposal.
Undeterred, IFM, which held 15% of shares out at the time, bumped its stake to 19% two months later; and has continued to capitalise on Australia's creep provisions ever since.
This morning, IFM is understood to have lifted its stake to ~26.5%, in an apparent attempt to gain additional board representation. Another tilt cannot be ruled out.
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