APA HDF

News: Hastings recommends Pipeline offer

  1. FNN News
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    03/08/12
    10:47
    Post #: 10522672
    .


    Hastings Diversified Utilities Fund (ASX:HDF) has released a target statement recommending that its shareholders agree to Pipeline Partners Australia’s takeover offer of $2.325 per share. 

     


    The energy infrastructure company says that the independent expert concludes that Pipeline Partners’ offer is fair and reasonable, in the absence of a superior proposal. 




    Independent directors have also considered the expectation that Hastings may trade at a price lower than the Pipeline Partners offer in the absence of current takeover activity. 




    Hastings is also currently being pursued APA Group (ASX:APA). 




    Hastings Diversified reported net loss of $29.9 million for its full year to December 31 , 2011.

    HDF Price at posting: $2.54 Sentiment: None Disclosure: Held
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