Sigdo Koppers S.A. (SNSE:SK) and CHAMP Private Equity didn't make a formal proposal for Bradken Limited (ASX:BKN) after 60 days of exclusive due diligence. Bradken confirmed to the Australian Securities Exchange on August 31, 2015, that it had refused a request by the Sigdo Koppers consortium to extend the exclusivity period and the two hadn't been able to cement a merger during the period. The string of corporate overtures from outsiders in the past 13 months had been frustrating the deal as well as restructuring of Bradken operations in response to a sharp downturn in the mining cycle was also a set back to the whole talk.
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