CoAL’s offer to take over Universal Coal lapses

Triple-listed Coal of Africa Limited’s (CoAL’s) offer to acquire the entire share capital of Universal Coal has lapsed, with all contracts resulting from acceptances of the offer by Universal shareholders now void. CoAL in December formally launched an offer to take over the South Africa-focused coal miner, which valued Universal at about A$126.4-million, competing with IchorCoal.