BREAKFAST DEALS: Captive Sundance

Sundance is still in suspension as it digests Hanlong's legal pickle, while Nine reportedly fine tunes its aim at Southern Cross.

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.

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