Coal group MC Mining looks set to delist as board gives reclutant nod to takeover offer

Junior coal miner MC Mining's delisting from the JSE now appears inevitable after its independent board on Wednesday recommended shareholders accept an off-market takeover offer from consortium Goldway Capital Investments.

Hong Kong-incorporated Goldway, which includes MC Mining shareholders, has now built up a stake of almost 84% in the miner. Now, its independent board is recommending acceptance of an offer - although it says it undervalues the business and its prospects.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.

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