Sundance bid far from over

Hanlong has finally unveiled its bid for Sundance … but don’t expect a quick end.

PORTFOLIO POINT: Hanlong has bid for Sundance, the Whitehaven takeover is off the table, and the Future Fund has made an offer for the Australian Infrastructure Fund.

After months of rumour and wrangling, this morning we learned that Hanlong and Sundance have finally agreed on a bid at 45c a share. While shareholders will grab this, and should grab this, with both hands, I’d still be staying away.

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