Macarthur Coal Confirms Recommendation Of Offer In Target Statement

Shareholders in Macarthur Coal Ltd. (MCC.AU) should back a joint offer for the company from Peabody Energy Corp. (BTU) and ArcelorMittal (MT) valuing the miner at A$4.83 billion, the miner said Monday.

Macarthur, which last week recommended a sweetened offer from the partners, said in a target's statement that the deal represented the best offer on the table for shareholders.

The company had held discussions with other potential bidders, but "no superior proposal (has) been received" said Macarthur Chairman Keith de Lacy.

Peabody and Arcelor, respectively the world's largest listed pure-play coal miner and the world's biggest steelmaker, raised their takeover offer to A$16.00 per share from A$15.50/share previously in a bid to secure the backing of the Macarthur board and fend off other potential suitors that have been studying the miner's books.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

Macarthur Coal (ASX:MCC)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024