(1) Hanlong told Sundance that China Development Bank, which provides the funding requested further information. Depending on whether the "information" is favourable or not,the deal could either fail or pass..basically its still in the due diligence process.
(2)and quoting the words from Sundance "in the absence of a superior proposal,this offer continues to be in the best interest of all shareholders". From the way i see nobody ever bid for SDL except Hanlong.
This is the problem with us. We think too highly of ourself,be greedy and trying to squeeze more from the other party. Billabong,Northern iron, Arrium and many more rejected the takeover and their shares plunged into an all time low now and staying there forever.
Damn!! I should have accepted the takeover when Hanlong wants to buy me out at $0.57.
SDL Price at posting:
34.2¢ Sentiment: Sell Disclosure: Held
