Think you will find it was mid to late July going by the 7 page Report. Not late June to early July. That was when Hanlong became aware that others were ready to make a strike for SDL. That was when Hanlong panicked and made the take over offer, and said they had to stop others making a bid for SDL.
That was when the SDL Board made their biggest mistake. Hanlong gave them three options and The Board decided to sell out instead of going with a Joint Venture with Hanlong.
Regards Westcott.
SDL Price at posting:
27.0¢ Sentiment: None Disclosure: Held