Alexa

ArcelorMittal, Peabody bid for Macarthur Coal

ArcelorMittal, Peabody bid for Macarthur Coal

ArcelorMittal says that together with Peabody Energy Corp. it has made an offer to acquire Macarthur Coal Ltd. in a bid that values the Australian company at 4.7 billion Australian dollars ($5 billion).
ArcelorMittal said Monday that Macarthur shareholders will be offered AU$15.50 per share. The Luxembourg steel maker already owns about 16 percent of Macarthur.
The takeover would be made by a holding company which will be 40 percent owned by ArcelorMittal and 60 percent owned by Peabody.
Macarthur said its board was not making a recommendation on the indicative offer, but would engage with the two companies.
Macarthur produces pulverized coal, which is a key ingredient in the making of steel.


Updated : 2021-01-23 03:56 GMT+08:00