low ball chinese bid tossed out , page-33

Butcher, I have no doubt whatsoever that HanLong has the money in the bag. They would have had the money on the bag regardless of whether the bid is at 45 cents or 57 cents. HanLong is tasked by the PRC to carry out this transaction. Why would they not have the money in the bag ?

The question from hereon are:

1) Why has HanLong stalled the release of the CDB letter. Is is because of changing circumstances assocaited with the NEGOTIATIONS as per the SDL ASX release regarding price ?
2) What happens if the 45 cents bid is voted down ?
3) Does Han Long up the offer because the SDL board flags to Han Long privately that the hedgies won't deal for a cent less than 50 cents (for argument sake)
4) A counter-proposal (as I said even an unofficial one flagged to the media will upsets HanLong's bid at 45 cents).

See what happens.