APA Group’s
(ASX:APA) $1.6 billion takeover bid for Hastings Diversified Utilities Fund
(ASX:HDF) has crossed the 90 per cent holding threshold.
According to Fairfax reports, upon reaching 90 per cent APA Group has triggered an 8 cent per share offer increase and allowed itself to move to full ownership.
APA’s interest in Hastings has reached 94.1 per cent in total as of yesterday.
The energy infrastructure business has announced an extension of its offer period to December 13.
APA Group reported a net profit of $130.7 million for fiscal 2012.
