The never-ending takeover of Sundance Resources has stretched the definition of bizarre to unbelievable lengths, with the apparent arrest of the Chinese bidder’s chairman. Nine Entertainment is reportedly thinking about a Southern Cross merger that would work with the 75 per cent reach rule. Roy Hill Holdings looks to have picked its preferred construction bidder; the Brickworks-SoulPatts cross-shareholder arrangement isn’t going anywhere; and those Tom Waterhouse reports have been firmly denied.
Sundance Resources, Sichuan Hanlong Mining
It’s difficult not to say that the situation with Sundance Resources is now just funny – difficult largely because the suitor’s chairman is reportedly behind bars.