South Africa-focused coal company, Coal of Africa (CoAL) has announced an extension to its offer period for its proposed takeover of Universal Coal – its third such extension.
According to a company announcement, the offer will now close on 29 April. It had previously been due to close 14 April.
The company also said that shareholders holding about 62% of Universal’s shares on offer had accepted the offer. CoAL first announced the deal in November 2015. It values Universal at about US$91 million.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/08042016/coal-extends-unversal-offer-period-2016-546/