UPDATE: Peabody Energy, ArcelorMittal and Macarthur Board Agree to Terms for Recommended Takeover of Macarthur Coal

By Eddie Staley
Benzinga Staff Writer
August 30, 2011 6:39 AM

Symbols: BTU, MT

Posted in: News, M&A

Peabody Energy (NYSE: BTU) and ArcelorMittal (NYSE: MT) today announced that PEAMCoal has agreed to terms with the Macarthur board for a cash takeover of all outstanding shares of Macarthur Coal for A$16.001 per share, valuing the equity in Macarthur at approximately A$4.8 billion. All participating members of the Macarthur Board recommend that Macarthur shareholders accept the new PEAMCoal offer.

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UPDATE: Peabody Energy, ArcelorMittal and Macarthur Board Agree to Terms for Recommended Takeover of Macarthur Coal

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