UPDATE: Macarthur Coal Opens Data Room To Peabody

Macarthur Coal Ltd. (MCC.AU) said Friday it has granted Peabody Energy Corp. (BTU) access to a data room to conduct due diligence after the U.S. coal group's sweetened A$4.07 billion takeover offer.

Peabody has until May 3 to carry out its due diligence review of the company and its metallurgical coal mines in Queensland state, Macarthur Coal said in a statement.

There has been speculation that Xstrata PLC (XTA.LN) could lodge a rival bid for Macarthur, with the Swiss mining giant talking to Macarthur shareholders and retaining Macquarie as an adviser, but a spokeswoman for Macarthur said the company has had no approach from Xstrata or any other parties.

Macarthur said it remains bound by the restrictions contained in the implementation agreement for its planned bid for Gloucester Coal Ltd. (GCL.AU), despite that deal looking to be dead after shareholders in Gloucester's majority owner Noble Group Ltd. (N21.SG) voted against the transaction.

Those restrictions, which preclude Macarthur from soliciting takeover bids, are due to expire on May 6 unless Gloucester and Macarthur agree to extend the offer period, which now looks unlikely.

-By Alex Wilson, Dow Jones Newswires: 613-9292-2094; alex.wilson@dowjones.com

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