Macarthur Coal Limited (ASX:MCC), an independent Queensland-based coal mining company, has declined US-based Peabody Energy’s take over and said that it could not take its current offer to shareholders. It was a downgrade offer of A$3,8-billion for Macarthur.
Macarthur is quoted saying:
“The proposed terms of a shareholder agreement tabled by Peabody in March 2010 are not acceptable to Citic.”
