UK 12:30 Saturday, 7 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Fallen AIM star Coal of Africa (CZA) is making an agreed bid worth some A$126 million (£59 million) for Aussie-listed Universal Coal in a deal which, if it goes through, would give the South African-focused company immediate production and a significantly expanded project portfolio. CoAL, as the Australian-headquartered company styles itself, is offering 20 Australian cents cash or 25 cents-worth of a non-convertible loan note for each Universal share, thus significantly outbidding an existing unwelcome suitor, South African group Ichor Coal, which is a 29.9% shareholder and has already made an A$80 million hostile cash bid at 16 cents a share.
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
