Hanlong's $1.3B Miner Buy On Brink After Missed Deadline

Law360, New York (April 4, 2013, 2:47 PM EDT) -- China's Hanlong Mining Investment Pty. Ltd. missed another vital deadline in its pursuit of Sundance Resources Ltd., the Australian miner said Thursday, likely squelching any hope for the proposed $1.3 billion takeover that has met with several delays and considerable strain.

This time around, Hanlong failed to furnish AU$5 million (US$5.2 million) in tranche-two funding that it had promised to provide Sundance by the end of the day on Wednesday. The skipped deadline comes after the Chinese company late last month did not show credit approval...
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