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Livewire Exclusive: Ata Goes Binding in its Tilt for Universal Coal

Ata Resources returned to Universal Coal (UNV.ASX) last week, not only stepping up its offer to binding (something we always love to see) but also provided colour around its ability to finance its proposal. The message was clear; the intent to acquire the business is real and Ata is willing to put their money where their mouth is. However, while the independent board is continuing to engage Ata on its proposal, they are yet to agree to and endorse the transaction.

So where could this corporate activity lead to from here?

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