APA Group (ASX:APA) today said it was concerning that Hastings Diversified Utilities Fund (HDF) had failed to disclose its board's view or an independent expert's report on the value of HDF in their Target's Statement released today.

APA Managing Director Mick McCormack said: "It is an extraordinary position taken by HDF to fail to give its securityholders a full and independent view of HDF's value.

"We can only assume no independent expert's report has been provided because HDF feared the report would confirm APA's Offer was within the value range.

"HDF's board has failed to give securityholders any guidance as to what an adequate value would be."

Mr McCormack said the Target's Statement also failed to provide key details to securityholders of HDF's opaque mezzanine debt facilities, including any punitive break

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