By Pierre Bertrand

Atlantia SpA said Wednesday that its board of directors deems a takeover offer launched by U.S. fund Blackstone Inc. and Italy's Benetton family as fair from a financial standpoint.

The two parties, via their Schema Alfa SpA investment vehicle, have offered to buy out the Italian infrastructure company for around 12.7 billion euros ($12.68 billion), or EUR23 a share.

The bidders plan to delist the company following the purchase.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

October 05, 2022 07:23 ET (11:23 GMT)

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