Deals
Sundance Seen Doubling Money on Takeover Betting Today: Real M&A
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Australia’s Sundance Resources Ltd. is giving traders a chance to double their money on the richest mining takeover in five years.
Sundance rose as much as 34 percent after Sichuan Hanlong Group offered in July to buy the owner of the Mbalam iron ore project in Africa. The stock has since lost all its gain on concern the Chinese conglomerate won’t be able to pay for the $1.4 billion purchase. With Sundance cheaper than it was before Hanlong announced its bid, traders can reap a 65 percent return betting on the deal, according to data compiled by Bloomberg.