Slightly surprised that the SDL board didn't even pretend to wring out a useless concession (i.e. dropping exlusivity clause) to placate SHs and at least maintain the facade of retaining some bargaining power with HL & the Chinese.
A leaky boat (but full of insiders equipped with life jackets) with an unmanned wheel, it is infinitely clear (if it wasn't before) that China can and will do whatever it wants with SDL and continue pushing the deadline envelope for as long as it pleases. How anyone have any confidence that this will complete before the end of the financial year in accordance with the current timetable is beyond me.
Surely this "contract" is built upon nothing an illusory promise of the mirage that is 45c (payable whenever China 'feels like it')?
Next support level is at 31.5c according to my charts - can't see how this won't drop on open/close tomorrow before another predictable pump closer to the credit term sheet.
SDL Price at posting:
34.0¢ Sentiment: None Disclosure: Held
