Macarthur Declines Peabody’s A$3.8bn Offer

Macarthur Coal Limited (ASX:MCC), an independent Queensland-based coal mining company, has declined US-based Peabody Energy’s take over and said that it could not take its current offer to shareholders. It was a downgrade offer of A$3,8-billion for Macarthur.

Macarthur is quoted saying:

““The proposed terms of a shareholder agreement tabled by Peabody in March 2010 are not acceptable to Citic.”

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