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Universal plays strong hand in bid response

South African coal producer, Universal Coal, has released a robust independent valuation of the business and confirmed an asset acquisition of its own in a double blow to a hostile takeover attempt by its largest shareholder, Ichor Coal.

Gareth Tredway
Universal's Kangala colliery has reached steady state production levels of 2.8 million tonnes per annum

Universal's Kangala colliery has reached steady state production levels of 2.8 million tonnes per annum

The news sent the Universal’s share price A2c 15% higher to 19.5c/sh and now well clear of the 16c/sh offer price. Australian-listed Universal engaged KPMG Financial Advisory Services in August to come...

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