I share other investors perceptions that March 26 is a key date,...

I share other investors perceptions that March 26 is a key date, and if Hanlong does not deliver SDL should walk away.

It is interesting that when investing in projects in countries like Cameroon and Congo, we always build in a sovereign risk factor. In the case of this takeover, the risk premium has come about because of a risky bidder. Hanlong have imparted a high risk premium to the project; the share price being 30% below the bid is a testament to that.

For most of us, Hanlong's risk premium is higher than anything we would have been prepared to invest in. Would anyone on this blog invest in Hanlong?

So why have SDL invested so much time and opportunity cost in a company called Hanlong?