Peabody Energy and ArcelorMittal SA Submit Proposal to Acquire Macarthur Coal

Peabody Energy (NYSE:BTU) and ArcelorMittal SA (NYSE:MT) announced their joint intention to acquire Macarthur Coal (ASX:MCC).

The press release is quoted as saying:

Under the proposal by a newly formed company, owned 60 percent by Peabody and 40 percent by ArcelorMittal, Macarthur shareholders would be offered a cash price of A$15.50 per share through an off-market takeover offer.

To read the full press release, click here.