ArcelorMittal, Peabody Secure 59.85% In Macarthur Coal
24 Ottobre 2011 - 12:13PM
Dow Jones News
Private coal miner Peabody Energy Corp. (BTU) and the world's
largest steelmaker by output ArcelorMittal (MT) Monday said they
secured a 59.85% stake in Australian coking coal miner Macarthur
Coal Ltd. (MCC.AU) and as a result their offer became
unconditional.
PEAMCoal Pty Ltd., the suitors' joint-venture body, said it in a
statement it offers to pay A$16 for each share of Macarthur and
will raise its offer to A$16.25 if it manages to get at least 90%
of the company by Nov. 11.
"We encourage remaining Macarthur shareholders to accept without
delay and improve their chances of receiving the premium A$16.25
per share price, should we reach the 90% compulsory acquisition
threshold," Aditya Mittal, ArcelorMittal's Chief Financial Officer
said in a statement.
ArcelorMittal and Peabody had moved to buy Macarthur in July
after Peabody had tried unsuccessfully on its own. The two
companies had originally offered to pay A$15 a share of Macarthur
after raising it to A$16.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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