Sundance has engaged two (!) M&A advisors in connection with Hanlong bid. This shows to me how accurate and professional our management is doing their job. I hope these Clayton/Johnson guys are at least half as good in doing their job.... ;-)
Perth, 18 July 2011: Clayton Utz is advising ASX-listed international iron ore exploration and development company Sundance Resources Limited in connection with an all-cash conditional proposal to acquire 100 percent of Sundance by China's Hanlong Mining Investments, announced to the market today.
Under the proposal, Hanlong Mining - Sundance Resources' major shareholder, with an 18.6 per cent stake - proposes to acquire the remaining shares in Sundance via a scheme of arrangement, at a price of A$0.50 per Sundance share attributing an approximate A$1.4 billion value.
Clayton Utz Perth Corporate / M&A partner Mark Paganin is the firm's lead partner on the deal, with support from Perth colleague and Corporate / M&A partner Matthew Johnson.
SDL Price at posting:
52.5¢ Sentiment: LT Buy Disclosure: Held
