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CoAL extends Universal offer period

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World Coal,

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.

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