ArcelorMittal, Peabody Secure 59.85% In Macarthur Coal

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

Macarthur Coal (ASX:MCC)
過去株価チャート
から 4 2024 まで 5 2024