https://www.engineeringnews.co.za
Coal|Resources
Coal|Resources
coal|resources

Universal still waiting for takeover offer

18th February 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The board of ASX-listed Universal Coal has urged shareholders to sit tight as the company awaits a possible takeover offer from a consortium of investors, headed by South Africa’s Ata Resources.

Universal in December last year struck a non-solicitation agreement with the special purpose bidding company, which had proposed to acquire Universal through a cash consideration of A$35c a share.

Under the non-solicitation agreement, the companies agreed that no acquisition would be made until February 15.

Universal said that the consortium has reportedly ‘made progress’ with the satisfaction of certain conditions precedent to the proposed transaction, with a firm offer expected by the end of February. However, the company noted that there was no certainty that the takeover offer would be made, or if made, would proceed.

If an offer is made, it would remain subject to an independent expert report, as well as board and shareholder approval.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.119 0.181s - 158pq - 2rq
Subscribe Now