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Universal Coal to Reject Terracom Offer

Coal News - Published on Fri, 20 Mar 2020

Image Source: steelguru.com
Universal Coal referring to the unsolicited bid made by TCIG Resources Pte Ltd, a wholly owned subsidiary of TerraCom Limited made on 12 February 2020 to acquire all of the shares and CHESS Depositary Interests in the Company that it did not at that time already own, said that Independent Expert’s Report concludes the Unsolicited Bid is neither fair, nor reasonable.

In its evaluation of the Unsolicited Bid, the independent committee of the Board mandated to consider and oversee the Unsolicited Bid appointed Deloitte Corporate Finance Pty Ltd to prepare an independent expert's report. Deloitte has concluded that the Unsolicited Bid is NEITHER FAIR NOR REASONABLE to Universal shareholders and holders of CDIs not associated with TerraCom BidCo

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Posted By : Rabi Wangkhem on Fri, 20 Mar 2020
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