And further to that:
"Obtaining PRC regulatory approvals prior to making a bid and agreeing to the payment of a reverse break fee upfront may provide PRC companies with the edge they need to compete in public M&A and *provide comfort to target boards which are unwilling to risk heading down the same path as Sundance.*"
SDL board took one hell of a punt on Hanlong, time to tell them where to go.
extension, page-10
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