Atlas Arteria (ASX:ALX) has lodged its fifth supplementary target’s statement with the Australian Securities Exchange, reiterating its Independent Directors’ unanimous recommendation for securityholders to reject the off-market takeover bid by Diamond Infraco 1 Pty Ltd, a wholly-owned subsidiary of IFM Global Infrastructure Fund. Atlas Arteria partners to deliver world-class road experiences, managing toll road businesses in France, Germany, and the United States. This latest statement, dated 22 June 2026, reinforces previous communications regarding the ongoing offer.
TheIndependent Directors continue to advise that the offer remains too low and opportunistic, materially undervaluing Atlas Arteria securities. They highlighted the bid as 12% below the $5.79 midpoint of the Independent Expert’s valuation range of $5.39 to $6.20 per ALX Security. To enhance securityholder value, Atlas Arteria announced its intention to target distributions of at least 60.0 cents per ALX Security in the 12 months following the offer period. This comprises 40.0 cents in ordinary distributions and at least 20.0 cents in additional distributions, funded by portfolio cash flows, potential asset sales, and corporate borrowing.
Further advancing its value realisation strategy, Atlas Arteria has entered exclusive discussions with Eiffage S.A. for the potential sale of its 100% stake in the Warnow Tunnel in Germany. The exclusivity agreement grants Eiffage four weeks for due diligence and transaction negotiation, with targeted completion in the second half of 2026, subject to approvals. The expected sale price aligns with the Independent Expert’s €100 million to €115 million range, with net proceeds estimated at 11-13 cents per ALX Security, contributing to the targeted distributions. Atlas Arteria confirmed the Warnow Tunnel is its smallest asset, and its divestment would not materially impact future strategy, as other value-unlocking initiatives, including the potential Chicago Skyway divestment, continue.
