From Bloomberg (note email response from Sundance)
Hanlong Said to Cut Offer for Sundance Resources by 21%
Aug. 14 (Bloomberg) -- Sichuan Hanlong Group, a Chinese investor in highway and power projects, lowered its takeover offer for Sundance Resources Ltd. by 21 percent, said a person with knowledge of the matter.
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“Negotiations with Hanlong are incomplete,” Sundance said in an e-mail response to questions about the 45-cent-a-share bid. “While discussions are ongoing, Sundance isn’t commenting.”
Wu Shijun, a Chengdu-based media official at Hanlong Group, couldn’t be reached to comment. Dow Jones reported the lower offer price earlier today.
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To contact the reporter on this story: Brett Foley in Melbourne at
[email protected] To contact the editor responsible for this story: Philip Lagerkranser at
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SDL Price at posting:
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