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from todays afr

  1. 615 Posts.
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    Interloper Crashes Sundance Party

    A big five miner has weighed into Hanlong minings proposed 1.4 bn takeover bid for Sundance Resouces, according to sources close to the transaction

    The group is said to be outside the top three largest iron ore produces in Australia, which points to Xstrata or Anglo American. Both have expressed a desire to grow their presence in Iron ore

    The interloper is said to already be inside the Sundance data room and visited the company's $US 4.7bm project.

    i would cut and paste the rest but for some reason cut n pasting doesnt work with the AFR online

    goes on to say that the old adage of chinese firms not bidding against each other will not apply in this situation because as Hanlong is a private concern

    Also says meeting in beijing this week.
 
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