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AUSTRALIA : Peabody Energy and ArcelorMittal bid for Macarthur Coal takeover
Publish Date : 13-Jul-2011
Macarthur Coal, the world\'s biggest producer of pulverised coal, received a $US5 billion ($4.7 billion) takeover offer from Peabody Energy and ArcelorMittal.
ArcelorMittal, by far the biggest steelmaker in the world, and Peabody Energy are bidding for all of the shares in Macarthur, valuing the company 4.7 billion Australian dollars (3.5 billion euros, $5 billion).
The Indicative Proposal is subject to many conditions such as Foreign Investment Review Board approval, satisfactory due diligence investigations and the bid company achieving a relevant interest in at least 50.01% of Macarthur ordinary shares.
