The announcement comes further to the announcement made by the company on 8 November 2010 where it has advised that it had reached an in-principle agreement with GRAM on the terms of a possible acquisition of Caledon by Guangdong Rising (Australia), a wholly-owned subsidiary of GRAM.
The takeover offer values Caledon at £251.6m, or a 34% premium to its closing price of 83.75 pence on 5 November 2010 and a 53% premium to its volume weighted average price of 73.16 pence for the 20 trading day period to 5 November 2010.
Caledon is a coking coal producer and explorer in the Bowen Basin of Queensland, Australia.
