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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Macar Coal Fpo | ASX:MCC | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From May 2019 to May 2024
Peabody Energy Corp. (BTU) and ArcelorMittal (MT) said Thursday they have cleared the final regulatory hurdle in their A$4.8 billion (US$4.89 billion) bid for Australia's Macarthur Coal Ltd. (MCC.AU) after receiving clearance from China's ministry of commerce.
"This action...clears the way for us to complete this transaction in a timely manner," said Gregory Boyce, chairman and chief executive of Peabody, in a statement. "Our offer has been recommended by all the participating members of the Macarthur board and is a substantial premium of 44% to the closing price on July 11, just before our proposal was made public."
Peabody and ArcelorMittal said an institutional acceptance facility that will be operated by UBS AG has been set up for shareholders to accept the offer, which will allow institutional investors to indicate their intention to accept the bid but don't want to sell before the deal has become unconditional.
The A$16 a share offer is scheduled to close Oct. 29, unless extended.
Macarthur's shares ended the day up 0.1% at A$15.92.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
1 Year Macarthur Coal Chart |
1 Month Macarthur Coal Chart |
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