Taboon, good points. I further add that the prospect of a counter-bid is "extremely" high. Nothing is ever 100% certain I guess. This means the ultimate price/share of the successful bid will be determined by market forces (as opposed to sp manipulation on the basis on an empty chair at a mining conference).
Clues: we were 2 days before CDB term sheet and just weeks away from the SDL shareholder vote of the SIA where it was to be up wrapped up with cheques sent out in June.
The People's Daily for the last 4 months have trumpeted the need to HanLong to partner up with a couple of big CISA boys (WISCO and Hebei were well flagged).
Why did the NDRC not insists on the SoE partnership back in July after obtaining teh FIRB approval (and instead took 6 months to low-ball the original bid, examine the approvals and permits). One could argue why not insist on SoE partnership back in 2011 when HanLong was just as puny as it is now (it's assets is all shares bought with State Money dumped on it's lap by the CDB - SDL, Moly, Bannermann - YOU TRY BORROWING A CENT from the CDB - I wish you luck...LOL !)
Why not pass the baton after the deal is sealed ? Why complicate matters at this point in time of the takeover progress ? Why not arrest Liu in just 8 weeks time ?
Why would China need to stall as it is clearly under political pressure to complete the deal ?
In short, why must the SoE now be the face of the Sundance takeover ?
SDL Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
