IFM is still buying up the company’s stock despite walking away from takeover talks.
The post Up 4% today, could this ASX 200 share finally receive a takeover bid? appeared first on The Motley Fool Australia. –
IFM Investors abandoned takeover talks with the company last week, saying itâs ânot presently in a position to meaningfully progress a proposalâ.
However, a release to the ASX today shows it’s been snapping up more of Atlas Arteria’s stock. IFM and its associates now hold a 19% stake in the ASX 200 infrastructure company.
The Atlas Arteria share price lifted to a high of $8.19 earlier today â a 5.7% gain. However, itâs slipped to trade at $8.05 right now, representing a 3.87% increase.
Thatâs a notably better performance than that posted by the ASX 200. The index has lifted just 0.13% at the time of writing.
Letâs take a closer look at todayâs news from the ASX 200 share.
Is this ASX 200 share still a takeover target?
The Atlas Arteria share price is gaining on Thursday. It comes amid news that IFM is still buying up the companyâs stock despite walking away from acquisition talks.
The pair entered discussions regarding a potential proposal in early June after IFM increased its holding in the ASX 200 company to 15%.
After a period of back and forth, IFM walked away. Though, it left the door open to future talks.
And its interest in such discussions appears to remain. Indeed, a 19% interest in the toll road operator is now in the hands of IFM and associates.
However, neither party have pointed to takeover talks since their previous discussions were put to bed.
A release to the ASX today shows IFM now holds a 9.99% relevant interest and a 9.01% economic interest in Atlas Arteria.
The last purchase made by IFM was dated today and comprised 30.7 million shares priced at $8.10 apiece. That represents around 3% of the ASX 200 companyâs outstanding stock.
The post Up 4% today, could this ASX 200 share finally receive a takeover bid? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.