KesslinI thought you were going to start way back when SDL...

Kesslin
I thought you were going to start way back when SDL couldn’t find any JV partners and had to woo the Chinese. Then how the Chinese came onboard to provide the infrastructure and port facilities etc etc. It became obvious (not necessarily manipulative) but you could readily understand it if the Chinese started to woo the local governments with other incentives and via these have the SDL leases magically transferred. When the unfortunate plane accident occurred (don’t get conspiratorial), it was obvious there could well be a management void which could provide the opportunity for a friendly TO. Hence PRC ‘encourages’ Han Long on board (literally), with the aim to test and if the “African’ initiatives fail, to proceed in securing SDL. When Han Long made it’s initial offer (again, like the JV) there were no counter offers. Han Long knew it had the opportunity to play and delay. At the same time there was the decay in the commodity SP as the ‘steam’ in IO projects plummeted, …….what great timing for Han Long. They could now hold off until the time was right. It is interesting that when the commodity SP’s started going back up, Han Long made the present offer!!! …(I wonder if now is the commodity double dip bottom?, and the right time to start buying commodities again…time will tell).

Anyway, from Feb 2011 SDL’s SP hasn’t moved as low as others commodity stocks(percentage wise), because of the expected TO. As time went on the BB started to get concerned, because if the offer failed the SP would plummet to meet the others. So Han Long is correct in stating that.

For me, if Han Long were an Australian company taking over a Chinese company…I’d say how very smart, clever and diligent these guys are. A case study in the Optimisation of TO Opportunities. However, as it’s a Chinese company taking over an Oz company (SDL…and hence us), well lets all start whinging, and getting moral and pedantic about the issue….get real guys whatever your opinion, it means Fully zip.

The big concern now is …. there’s still no counter offers (that we know of), so it would seem Han Long can AGAIN logically ‘play’ the game. Unless SDL is ready to mothball the project for 2 or 3 years (ok by me, I’m a LTer), then whatever the buyer’s offer is, that’s all there is available. Remember SDL was willing to sell for 57c when we all thought it was worth $2. So if George wants to move on, and Han Long provides enough incentive (perhaps allowing the conversion of board members future options) then so be it.

You’d be better of spending your time and energy researching to find another potential SDL and move on.