All we can do is wait and see what happens, interesting that Hanglong replied today to SDLs announcement, last week when they made an offer to BMN there was no reply, and BMN also noted that the Hanglong offer was low and tried to take advantage of the recent drop in share price and negative market sentiment since Japan.
Another thing to note was that the BMN takeover is/was highly conditional there is a short list of things that need to happen/not happen for BMN shareholders to receive their 61.2c, where as today it seems that Hanglong has just one condition and that is that the SDL board approve the takeover.
Both takeovers will be handled with a scheme of arrangements meaning that there will not be a hostile takeover.. or at least not yet.
Where does this leave SDL in terms of a strategic partner, again does the potential partner want to work with this Australian company, or the Chinese company? Will potential partners pull out of the race now that there is somewhat of a question mark about who will be the owner of SDL and their partners throughout this project?
I think we should expect SDL to come out with a statement of exactly what is going on, i think this has left alot of us long term holders nervous, as the last thing we want to see is an announcement from SDL confirming that they will now approve and enter into a scheme of arrangements with Hanglong to acquire 100% of SDL.
Fingers crossed, lets hope we see a market update that SDL has rejected the offer and isn't willing to sell the company at this point in time.
Who would have thought that Monday morning we'd get an announcement that Hanglong wish to acquire 100% interest in SDL only a week after they made the same announcement down at the BMN camp.
One last thing, lets hope G.J reads hotcopper with his afternoon tea, and understands that his shareholders have the same passion as him and want to see this thing through to production.
SDL Price at posting:
49.0¢ Sentiment: LT Buy Disclosure: Held
