Jian Ke, China is not letting HanLong to lose money.
China used HanLong as the vehicle to conduct the takeover.
Circumstances have arisen that it didn't anticipate ("potential" serious counter-bids) has resulted in a change of tactic (using the State Steel Groups most likely Wuhan Iron & Steel and Hebei Iron & Steel instead as the credible vehicle to out-do any opposition.
There is nothing secret about it. Xinhua, People's Daily, China Daily, Gobal Times have since December been voicing this "switch".
Takeover price is no longer Beijing's concern (I don't think it really even care about hammering the original 57c offer down to 45c for money sakes - it was a case of showing who's boss and to set a precedent where China can freely dictate acquisition prices).
Right now, China's priority is to secure the purchase.
SDL Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
