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Peabody Energy and ArcelorMittal Obtain Majority Interest in Macarthur Coal
Oct. 24, 2011 07:48AM PST
Industrial MetalsPeabody Energy (NYSE:BTU) and ArcelorMittal (NYSE:MT) have now removed all conditions of their takeover of Macarthur Coal (ASX:MCC).
Peabody Energy (NYSE:BTU) and ArcelorMittal (NYSE:MT) have now removed all conditions of their takeover of Macarthur Coal (ASX:MCC).
As quoted in the press release:
PEAMCoal Pty Ltd disclosed today that it has a relevant interest in approximately 59.85% of the Macarthur shares, excluding shares subject to the Institutional Acceptance Facility (IAF). As a result, the minimum acceptance condition of 50.01% has been satisfied and PEAMCoal has declared the offer unconditional.
Peabody’s Chairman and CEO, Gregory H. Boyce said:
“We are pleased to obtain a controlling interest in Macarthur Coal and look forward to advancing the company’s operating performance and growth initiatives.”
Click here to read the Peabody Energy (NYSE:BTU) and ArcelorMittal (NYSE:MT) press release.
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