The toll roads owner looks set to be swept up in the wave of private capital bids for ASX-listed infrastructure stocks.
Toll road owner Atlas Arteria looks set to be swept up in the wave of private capital bids for ASX-listed infrastructure stocks, after it was put in play by Australian heavyweight IFM Investors.
It’s an each-way bet by IFM Investors, which doesn’t make moves on listed companies lightly. The last time we saw IFM Investors chasing an ASX-listed company was at Sydney Airport this time last year, when it anchored a $32 billion all-cash bid. While 13.3 times isn’t a massive multiple for a core infrastructure stock, Atlas Arteria has less than 20 years left on its concessions on average . The average sell-side price target is $6.85 a security.Louie DouvisJarden’s desk crossed a parcel of 31.95 million shares at $8.10 a share in the match, or a 14 per cent premium to the closing price, in a $258.8 million trade.
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