Sundance Resources Limited (ASX:SDL) is reportedly moving in on a deal with its suitor and shareholder China’s Hanlong Mining. Reports emerged last week Hanlong had cut its $1.7 billion offer by 21 per cent, from 57 cents per Sundance share to between 40 cents and 45 cents. Fairfax media says speculation is mounting that a counter bidder could also be looking to swoop on the West Africa focused iron ore miner. Shares in Sundance Resources last traded at $0.335, having entered into a trading halt earlier this month.
SDL Price at posting:
33.5¢ Sentiment: LT Buy Disclosure: Held
