increase stake

Gas pipeline owner APA Group (APA) has made a $1.8 billion bid for a complete takeover of the Hastings Diversified Utilities Fund (HDF). APA already owns 20.7 per cent of HDF and feels that Hasting's assets go in line with their infrastructure asset portfolio.

Rio Tinto (ASX:RIO) is closing in on the Ivanhoe Mines by paying $502 million to boost its stake from 42 percent to 46.5 percent. Vancouver-based Ivanhoe said that Rio is going to exercise all its remaining share purchase warrants to buy more than 55 million shares in the company.

After Nufarm Limited (ASX:NUF) chief Doug Rathbone sold 4.5 million shares to Japanese firm Sumitomo Chemicals, Sumitomo said that it plans to further increase the stake by adding 1.3 percent to the 21.7 percent already acquired. According to the Sumitomo statement, the purchase of additional shares is planned in the next six months.

The world's third largest mining conglomerate, Rio Tinto (ASX:RIO) has raised it's shareholding of Ivanhoe Mines Ltd, a Canadian mineral exploration and development company headquartered in Vancouver, British Columbia. Ivanhoe Mines is focused is on the Pacific rim where it is in the process of developing several large mines, the principal one being the Oyu Tolgoi Project in Mongolia.