04 Oct 2011

Clayton Utz advises Sundance Resources on increased A$1.65 bn Hanlong offer

Perth, 4 October 2011: Clayton Utz is continuing to advise ASX-listed international iron ore exploration and development company Sundance Resources Limited in connection with an all-cash conditional proposal by China's Hanlong Mining Investments to acquire 100 percent of Sundance, at an increased offer price of A$0.57 per share.

Under the proposal, Hanlong - Sundance Resources' major shareholder - proposes to acquire the remaining shares in Sundance via a scheme of arrangement, at a price of A$0.57 cash per Sundance share attributing an approximate A$1.65 billion value.

Clayton Utz Perth Corporate / M&A partner Mark Paganin is the firm's lead partner on the deal, with support from senior associate Kate Casellas.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.