TerraCom warns of Universal de-list plans

ASX-listed TerraCom has increased its voting rights in takeover target Universal Coal to 87% as the deadline for the takeover offer looms. The suitor previously said that should it gain a shareholding of more than 75%, but less than 90% of Universal by the end of the offer period, the company would consider applying to the ASX to have Universal delisted, or would consider whether it was appropriate to maintain a listing on the Australian bourse.