Australia: Clayton Utz advises Sundance Resources on increased A$1.65 bn Hanlong offer
Last Updated: 7 October 2011

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'sHanlong 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.

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