Clayton Utz and Mallesons Stephen Jaques are advising on a takeover bid of ASX-listed iron-ore exploration and development company Sundance Resources Limited by China's Hanlong Mining Investments.
The all-cash conditional proposal, announced today (18 July), would see Hanlong Mining - currently Sundance's major shareholder with an 18.6 per cent stake - acquire the remaining shares in Sundance and gain control of its $4.7bn Mbalam iron-ore project in West Africa.
Each Sundance share would be acquired at a price of A$0.50, attributing an approximate $1.44 billion value to the takeover.
Clayton Utz Perth partner Mark Paganin is leading the transaction with support from partner Matthew Johnson.
The Mallesons team is being led by partner David Friedlander and senior associate Paul Schroder.
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