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Reuters reported Hanlong Group is in talks to reduce the A$1.7 billion price tag it agreed to pay for Australian iron ore miner Sundance Resources (ASX:SDN).
Reuters reported Hanlong Group is in talks to reduce the A$1.7 billion price tag it agreed to pay for Australian iron ore miner Sundance Resources (ASX:SDN).
As quoted in the market news:
Sundance said in statement that Chinese regulators had finally approved the year-old deal, but on the condition the purchase was struck at a “reasonable acquisition price”.
Trading in Sundance shares, which have fallen 40 percent since the bid was first launched, was halted.