Might be a bit of a stretch to expect the chinese to pay 57c for a stock the market continues to value at just 32c? The market is saying that the Chinese bid will fall over or change- hence the discount. I think a reduced bid has been in their eyes for some time. The Chinese will look like idiots paying the top price and the powers to be know it. SDL also recently did a placement at 39.5c right in the middle of this bid. I think the bid came too early in the process and the market went soft for risk. Any delays also pressure development costs along with a softer iron ore price. I have owned SDL at different times, but i reckon if they actually bid 40c cash and stood in the market, they would own it in this drawn out saga.
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Not Held
