Coal Investing News » Macarthur Declines Peabody’s A$3.8bn Offer

Macarthur Declines Peabody's A$3.8bn Offer

May 19, 2010 @ 6:57 pm In Coal Company News

Macarthur Coal Limited ^[1] (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."

Click here to access the entire news ^[2]

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URL to article: http://coalinvestingnews.com/1424/macarthur-declines-peabody%e2%80%99s-a3-8bn-offer/

URLs in this post:

[1] Macarthur Coal Limited: http://www.macarthurcoal.com.au/

[2] Click here to access the entire news: http://www.miningweekly.com/article/macarthur-rejects-peabodys-a38bn-offer-2010-05-18