Peabody Energy and ArcelorMittal Submit All Cash Offer to Acquire Macarthur Coal

Peabody Energy (NYSE:BTU) and ArcelorMittal (NYSE:MT) announced their intention to bid for acquisition of Macarthur Coal (ASX:MCC).

The press release is quoted as saying:

Macarthur shareholders will also be entitled to retain any final dividend declared by Macarthur in respect of the financial year ended June 30, 2011, up to an amount of 16 cents per share, without reducing the offer price.

To read the full press release, click here.