Macarthur Agrees Basis For Due Diligence With Peabody, ArcelorMittal
14 Luglio 2011 - 7:53AM
Dow Jones News
The world's largest listed miner and steelmaker have agreed
terms to carry out due diligence in their US$5.03 billion joint
takeover offer for Australian pulverized coal miner Macarthur Coal
Ltd. (MCC.AU), the target said Thursday.
Peabody Energy Corp. (BTU) and ArcelorMittal's (MT) joint
bidding venture said that if it made a bid in the next 12 months,
it wouldn't offer less than A$15.50 per share without the express
consent of Macarthur's board.
In addition, "up to 16 cents per share of any final dividend for
fiscal 2011 declared by the Macarthur board will not be deducted
from the offer price," the company said.
The initial announcement of the offer Monday suggested an
indicative price of A$15.50 less the value of Macarthur's final
dividend.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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