Chinese Miner Makes Bid For Sundance

The Sydney Morning Herald reports that Sundance Resources Inc. (ASX:SDL) is fighting a bid from Hanlong Mining for the iron ore company.

The market news is quoted as saying,

Now it is shaping up in a battle to ensure a low-ball, 50¢-a-share, or $1.4 billion, bid from its biggest shareholder, the Chinese-controlled and financed resources investor Hanlong Mining, does not gain traction.

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