IFM Investors takes majority control of Atlas Arteria

• IFM Investors secured a voting share of more than 50% in toll road operator Atlas Arteria.
• The acquisition automatically triggered a 14-day extension on the closing date of the takeover offer.
• The buyout bid values the target infrastructure company at approximately $7.4 billion.

The takeover timeline for Atlas Arteria (ASX:ALX) was extended after IFM Investors secured majority control, automatically pushing back the closing date of its bid by 14 days.

The previous baseline shifted after the bidder's voting power rose above 50% for the toll road operator.

IFM Investors is offering $5.10 per share, which values the company at approximately $7.4 billion.

The target business reported that its independent directors are currently considering their formal response.

Following the announcement, the Atlas Arteria share price was unchanged at $5.10.

Atlas Arteria manages a portfolio of international toll roads, including assets located across France, Germany, and the United States.

The corporate strategy of the company focuses on long-term infrastructure concessions and optimising regional travel experiences.