sdl: china's strategic prize (1 and only left), page-7

IMO, the whole thing has never been a case of whether SDL can fund the development. We all know and knew since day 1 that SDL needs a strategic partner (in other words either a partial or whole corporate level take over of SDL).

The issue here is who can pay the most for a highly prized asset with strategic implications for global IO demand & supply (epsecially during a period of sub-par IO demand).

When GJ says, the bid does not reflect the value to shareholder, he is definitly NOT suggesting adding another 10 cents on top of the low ball insult.

For some reason, I suspect a major Chinese state owned steel mill or a Minmetals type entity will take over from Hang Long once the offer lapses.