IFM Investors' effective holding in Atlas Arteria has climbed to about 47% ahead of Thursday night's takeover deadline, putting the bidder within reach of a near-50% position.
45.64% of Atlas Arteria shares are now directly held by IFM, a Tuesday exchange notice showed, with another 1.33% held by or on behalf of IFM clients.
The stake build matters because IFM is pursuing a takeover of the Australia-listed toll road operator that values the company at A$7.4 billion, or about $5.2 billion.
With the deadline looming, the latest disclosure sharpens focus on whether IFM can convert its growing holding into enough support to complete the bid.