Tuesday was a flashback to last year’s infrastructure M&A frenzy.
IFM Investors launched a raid on toll road owner Atlas Arteria via Jarden, and its infrastructure unit would have gone to bed owning 15 per cent of the company.
But Street Talk hears that IFM is in no rush to lob an offer. It wants to have a look at Atlas Arteria’s books first, kind of the opposite of what it did at Sydney Airport this time last year when it waltzed in with a $32 billion all-cash bid.
If IFM were to end up buying the company, it would hack off another infrastructure player from the ASX boards. Sydney Airport, AusNet and Spark left last year, leaving just APA and Transurban in the listed infra big-wigs club.
