Atlas Arteria hits go on $3.15b rights issue at $6.30/sh

The way these auctions usually work is that Atlas Arteria would bid with a volume underwrite - effectively a guarantee from its underwriters to raise equity to fund the bid.

The package would be based on a mooted price , and include a backstop or floor price, which would be the absolute minimum price for the raising. Transurban’s pulled it off with aplomb a few times in the past decade, although it’s obviously harder to do in a falling market.While Atlas Arteria is finally ready to launch the raising, and is understood to have sub-underwriters for the retail offer, the key thing will be institutional investor take-up which will be known by the end of this week.

If it is 90 per cent, or more, then Atlas Arteria and its underwriters will have pulled off a huge feat. If not, past deals suggest things could get harder for all parties involved. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Atlas Arteria turns defence into attack, readies whopper equity offerAttack is the best form of defence for Atlas Arteria, which is trying to pull off one of the most expensive M&A defences in Australian deals since the financial crisis.
Source: FinancialReview - 🏆 2. / 90 Read more »

IFM ‘exploring its options’ after Atlas Arteria buys Chicago SkywayAtlas Arteria’s biggest shareholder IFM Investors said it’s disappointed and looking at its legal options after the toll road operator sealed the $2.9 billion takeover despite its opposition. | SimoneFoxKoob
Source: theage - 🏆 8. / 77 Read more »

ASX LIVE: Australian shares to rise, Apple surgesAustralian shares to open higher; Atlas Arteria requests trading halt; Ramsay Health Care, KKR talks collapse; Star review due this morning. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »

Atlas Arteria, IFM Investors ready to rumbleIt’s tollroad investor Atlas Arteria up against IFM Investors in one of Australia’s biggest corporate showdowns of the year.
Source: FinancialReview - 🏆 2. / 90 Read more »

IFM demands Atlas Arteria axe US tollroad bid or face board spillThe growing power of industry super funds is being felt at toll road group Atlas Arteria, which has been threatened with a potential board spill by unless it abandons attempts to buy the Chicago Skyway. So people have been making free money off the Uniswap glitch for over a month and nobody's talking about this
Source: FinancialReview - 🏆 2. / 90 Read more »