Universal's mystery bidder remains masked
Coal miner Universal Coal on Thursday resumed share trading after the company was unable to name a secondary bidder.
Universal earlier this week went into a trading halt after receiving a non-binding indicative intention from a second bidder for all of the company’s shares.
Due to confidentiality restrictions, the ASX-listed company was unable to disclose the identity of the bidder. However, following discussions with the ASX, the bourse required that the identity of the bidder be disclosed.
Universal told shareholders that the bidder had been unwilling to comply with this requirement, and had subsequently withdrawn its intention.