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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.
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Last
$7.19 |
Change
0.040(0.56%) |
Mkt cap ! $9.776B | |||
| Open | High | Low | Value | Volume |
| $7.15 | $7.23 | $7.15 | $22.08M | 3.069M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 974 | $7.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.19 | 154885 | 6 |
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| Last trade - 16.10pm 26/11/2024 (20 minute delay) ? |
| APA (ASX) Chart |
