Sundance takeover dance

Company News

Chairman of Sundance Resources (ASX:SDL) George Jones, is waiting out a decision on whether to kill off takeover talks with Sichuan Hanlong, until after an emergency board meeting later today.

The $1.4 billion takeover deal, which has been 20 months in the making, so far, hit another road bump this week.

Hanlong billionaire Liu Han was detained by Chinese police on Wednesday, allegedly for money laundering in Macau.

Officially, the Sundance chairman said the deal may fall over, if Hanlong does not meet its credit term sheet deadline.

Sundance Resources last reported a net loss of 14.1 million to Dec 31.