Not just because Han Long Australia's chief who fled to china already implicated the company's direct involvement of the insider trading scam (crime committed in Australia concerning an Australia T.O target with resources in Australia), the Chinese will not bother pursue the FIRB approval for BMN as it has IMO clearly exhausted a lot of leverage over SDL. The last thing China needs is bad PR and even more DIFFIFULT for Australia (Tresaury / FIRB) to justify rejecting BMN T.O when it allowed Han Long to proceed with SDL T.O like a goal keeper casually stepping aside leaving the goal undefended.
Why ?
Because it (probably - IMO Wayne Swan was presurred) took a of effort and (dare I say implied consequences that Australia would find extremely PAINFUL) for the PRC to just to get the Australian government to concede in the case of SDL (as it is strategically important to china enough to go out of it's way to DEMAND a FIRB approval).
As Han Long Australia is implicated by one of it's own (at the very top) who has done a "runner" and will never probably return to Australia, if ASIC and FIRB do things by the book, the Han Long - SDL takeover wuld NEVER be approved.
As I said, the FIRB has REMARKABLY not explained why it suddenly granted the approval. Anyone smell a rat ?
SDL Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
