Deals
Sundance Tumbles After Hanlong Bid Is Terminated: Sydney Mover
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Sundance Resources Ltd. plunged by a record in Sydney trading after scrapping a A$1.14 billion ($1.19 billion) takeover agreement with Sichuan Hanlong Group.
The stock fell 48 percent to 11 Australian cents at the close of trade, valuing the company at A$338 million and cutting Hanlong’s holding to about A$47.7 million, according to data compiled by Bloomberg. Hanlong paid A$191 million for 433.8 million shares in 2011.