Sundance gets Australian approval for $1.3 bln China takeover

SYDNEY (Reuters) – Sundance Resources said Australia’s Foreign Investment Review board approved a $1.3 billion takeover of the company by China’s Hanlong Mining, clearing another hurdle to the long-awaited deal and sending its shares up by as much as 11 percent. Hanlong is targeting Sundance for its $4.7 billion Mbalam iron ore project on the border [...]