The Panel has received an application from Atlas Arteria Limited (ATLAX) and Atlas Arteria International Limited (ATLIX) (together, Atlas Arteria) in relation to its affairs. The application concerns an off-market takeover bid by Diamond Infraco 1 Pty Ltd (Bidder), a wholly owned subsidiary of IFM Global Infrastructure Fund, to acquire 100% of the stapled securities in Atlas Arteria which it does not already own (the Offer).

Details of the application, as submitted by the applicant, are below.

The Panel today released the results of its latest stakeholder survey conducted by JWS Research¹ in late 2025, which once again showed high levels of stakeholder satisfaction across a range of indicators.

Nearly four in five stakeholders (78%) are satisfied with the Panel as an organisation overall.

In addition, 80% of stakeholders are satisfied with the Panel’s effectiveness with proceedings, with most of the individual elements of this metric exceeding 80%.

The review Panel has set aside the orders made by the initial Panel in Humm Group Limited (see TP26/017 and TP26/019) and made new orders.

On 26 February 2026, the Panel accepted an undertaking from Humm Group Limited (Humm) on the issues of insider participation and management of conflicts of interest in relation to an application submitted on 26 January 2026 by Akat Investments Pty Ltd in relation to the affairs of Humm (Undertaking) (see TP26/009).

Among other things, Humm undertook to:

The review Panel has affirmed the declaration of unacceptable circumstances made by the initial Panel in Humm Group Limited (see TP26/011 and TP26/012), subject to minor variations following the receipt of submissions clarifying inconsistencies in the materials before the initial Panel.

A copy of the varied declaration of unacceptable circumstances (showing changes in mark‑up) is attached.

The Takeovers Panel notes the reappointment of 13 members and the appointment of four new members to the Panel for terms of three years, effective 2 April 2026.

The following members have been appointed: Mr Justin Harris, Dr Jane McAloon AM, Ms Christine McLoughlin AM and Ms Antonella Pacitti. The President and the Panel executive warmly welcome the new members.

The Panel has received an application from Mr Andrew Abercrombie seeking a review of the Panel’s decision to make orders in Humm Group Limited (see TP26/017).

This application will be heard by the same review Panel that is considering Mr Abercrombie’s application for a review of the initial Panel’s decision to make a declaration of unacceptable circumstances in Humm Group Limited (see TP26/012).

The Panel has declined to conduct proceedings on an application dated 30 March 2026 from Cue Energy Resources Limited (Cue) in relation to its affairs. Cue is currently the subject of an off‑market takeover bid by Horizon Oil Limited (Horizon) (see TP26/13).

The Panel has made final orders (Annexure A) in relation to an application submitted on 26 January 2026 by Akat Investments Pty Ltd in relation to the affairs of Humm Group Limited (Humm) (see TP26/005).