Long Run acquisitionThis transaction was compared early on to Long Run Exploration which received a take over offer from another Chinese company, Sinoenergy Investment Corp.
That deal was also hampered by delays, but also held significant risk as LRE is heavily indebted.
LRE advised shareholders that the deal closing date was extended from April to end of May, and then to the end of June.
On June 29th the deal finally closed.
My message in all of this is that patience is required if you are chosing to play this arbitrage. LRE was a good example.