4 bln takeover
MELBOURNE, March 26 (Reuters) Australia Sundance Resources said its suitor Hanlong would fail to meet a canada goose uk shop deadline on Tuesday to show credit approval for its canada goose uk outlet long delayed $1.4 billion takeover offer, Canada Goose Outlet and the companies would decide after April 3 whether to scrap the deal.
The decision to Canada Goose Parka enter five canada goose coats days of talks on canada goose factory sale whether Canada Goose sale to salvage uk canada goose outlet the deal canada goose black friday sale came after Hanlong Mining Chairman Liu Han was reported by Chinese media to buy canada goose jacket cheap be under police investigation for arconserve Canada Goose Coats On Sale harbouring his younger brother, a murder suspect.
the parties my website fail to canada goose coats on sale reach agreement during that period, either party may then terminate the SIA (scheme implementation agreement), Sundance said on buy canada goose jacket Tuesday.
Liu detention was the Canada Goose online latest setback in a uk canada goose deal cheap Canada Goose first announced in October 2011, after Hanlong had acquired a 14 percent stake in Sundance targeting the canada goose store company for its $4.7 billion Mbalam iron ore project in Africa.
The Chinese government ordered Hanlong to line up a major Chinese company to help it develop the Mbalam project canada goose clearance sale on canadian goose jacket the border of Cameroon and Republic of Congo, but those talks have stalled following the detention of Liu Han.
understanding is talks canada goose had progressed substantially. But obviously with the events that have happened recently, we unsure about their ability to progress, Sundance Managing Director Giulio Casello told Reuters.
He declined to predict whether the deal will be Canada Goose Jackets terminated.
don want to commit to anything. What we do is have the discussion and we make a decision cheap canada goose uk from that, he said.
A Hanlong spokesman declined to comment on the deal but said Hanlong deputy executive Kang Huan Jun was leading the talks with Sundance and had been throughout.
Investors have canada goose uk black friday been betting the deal would Canada Goose Online not go ahead due to the Chinese government reluctance to back Hanlong. Sundance shares last traded at 21 cents, less than half the value of Hanlong 45 cents a share canada goose clearance offer.