APA Group has increased its takeover offer for Hastings Diversified Utilities Fund (HDF) to $2.525 per stapled security.
APA on Wednesday said the revised proposal would include an increase in offer consideration to a value of at least $2.50 per HDF stapled security, with the cash component of at least 60 cents, and the remainder a fixed amount of APA securities.
"Together with the distribution from HDF of $0.025 per stapled security, due to be paid in early August, this represents a combined value of at least $2.525 per stapled security," APA said in a statement.
