hanlong mining on hold as china sets up probe, page-2

Just to highlight the final section of that post. Ease nerves a little...

"...Bannerman chief financial officer Peter Kerr said he hoped to talk to Mr Jun, but in the meantime it was "business as usual" in regard to Hanlong's $144m takeover offer for the Africa-focused miner.

Fosters Stockbroking analysts said the ASIC investigation was unlikely to affect negotiations, but it rated the likelihood of a "sweetener" to the offer from Hanlong or a knockout bid from another Chinese major as "high".

"The board of (Sundance) has previously stated that Hanlong's initial bid . . . did not represent fair value, but that the board would negotiate with Hanlong to see if they could mutually agree on a revised offer," the firm said.

"We expect Hanlong to propose a sweetener . . . and also understand that there are many suitors in the wings..."

:)