Johannesburg (miningweekly.com)–Aim-, ASX- and JSE-listed coal junior Coal of Africa’s (CoAL’s) recommended offer to acquire fellow South Africa-focused miner Universal Coal for A$0.25 share has received acceptances from 53.20% of Universal shareholders – representative of the total number of shares in issue – satisfying formerly established conditions for the offer. CoAL stated on Thursday that it believed that positive progress had been made on the remaining conditions, which were mainly procedural in their nature and could be fulfilled in a timely manner.
