AAP reported that shares in Sundance Resources have been placed in a trading halt ahead of an expected announcement from its Chinese suitor Hanlong Mining.

Sundance requested the trading halt pending an announcement on Hanlong's financial commitment obligations under its revised takeover offer.

Sundance said that it expects an announcement will be made before the open of trade on the Australian Securities Exchange.

Hanlong lowered its takeover bid for Sundance by about one fifth to USD 1.37 billion in late August 2012 following a fall in iron ore prices.

The takeover requires a decision by the Chinese Development Bank, which will provide funding, and from China's National Development and Reform Commission.

Source - AAP

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