Coal of Africa
(ASX:CZA) says it has extended the offer period for its merger with Universal Coal until 11th of March.
The miner says it has so far received acceptances for its offer for about 41 per cent of Universal shares on issue.
Shareholders are to receive $0.25 cash or $0.20 cash and one Coal of Africa share per Universal Coal share and received full South African approval.
The proposed acquisition will transform the company into a mid-tier producer.
Coal of Africa reported a net loss of $8.73 million in the 2015 financial year.
