Australian coal producer Caledon Resources PLC (AIM: CDN, ASX: CCD) has confirmed it received approaches from Essar Minerals Ltd and other parties which may or may not lead to a cash offer for the company.
Caledon had only yesterday noted speculation in the Indian media regarding a potential bid for the company by the Essar group, but neither confirmed or denied it. It had reiterated it has been involved in discussions with a number of parties over possible offers but that there had been no agreement with any party.
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