Australia Macarthur rejects New Hope’s $3.45 bln offer

- April 9th, 2010

On Friday, it was reported that Australian coal producer Macarthur Coal (MCC.AX) rejected New Hope Corp’s (NHC.AX) $3.45 billion all-scrip takeover bid saying it did not represent an adequate premium.

On Friday, it was reported that Australian coal producer Macarthur Coal (MCC.AX) rejected New Hope Corp’s (NHC.AX) $3.45 billion all-scrip takeover bid saying it did not represent an adequate premium.

The press release is quoted as saying:

Macarthur, which has also rejected U.S. Peabody Energy’s (BTU.N) $3.3 billion offer earlier this week, said it will proceed with an April 12 vote to take over Gloucester Coal Ltd (GCL.AX) in a deal that will give commodities firm Noble Group (NOBG.SI) almost 25 percent of its shares.

Click here to access the entire press release

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