Industry superannuation funds-owned IFM Investors closed its biggest deal with the purchase of a $US10.3 billion ($14.9 billion) oil pipeline business over the weekend, but quickly copped criticism from activist shareholder group Market Forces for abetting the fossil fuel industry.
The purchase of Buckeye Partners by IFM is believed to be the largest cross-border acquisition by an Australian business since BHP took out Petrohawk Energy in 2011.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
