Peabody (BTU), ArcelorMittal (MT) Affirm A$15.50/Share Bid for Macarthur Coal
Tweet
Share
E-mailGet Alerts BTU Hot Sheet
Join SI Premium – FREE
Peabody Energy (NYSE: BTU) and ArcelorMittal SA (NYSE: MT) affirm submission of a A$15.50 per share bid for Macarthur Coal Ltd.
The proposal price implies a value for the equity in Macarthur of approximately A$4.7 billion and represents a substantial premium to recent trading.
The proposal to Macarthur's board is non-binding and conditional on the successful completion of due diligence, which would be completed in a timely manner. Any resulting offer to Macarthur shareholders would be subject only to minimum 50.01 percent acceptance, Australia's Foreign Investment Review Board approval and other customary conditions and approvals.
Peabody has engaged UBS and Bank of America Merrill Lynch as its financial advisers and Freehills as its legal adviser in relation to the potential transaction. ArcelorMittal has engaged RBC Capital Markets as its financial adviser and Mallesons Stephen Jaques as its legal adviser in relation to the potential transaction.
The proposal price implies a value for the equity in Macarthur of approximately A$4.7 billion and represents a substantial premium to recent trading.
The proposal to Macarthur's board is non-binding and conditional on the successful completion of due diligence, which would be completed in a timely manner. Any resulting offer to Macarthur shareholders would be subject only to minimum 50.01 percent acceptance, Australia's Foreign Investment Review Board approval and other customary conditions and approvals.
Peabody has engaged UBS and Bank of America Merrill Lynch as its financial advisers and Freehills as its legal adviser in relation to the potential transaction. ArcelorMittal has engaged RBC Capital Markets as its financial adviser and Mallesons Stephen Jaques as its legal adviser in relation to the potential transaction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Holcim to acquire Fermacell from James Hardie for EUR 840M
- Moderna stock pulls back after massive one-day rally: analysts weigh in
- Value-focused retailer sees traffic momentum strengthen ahead of second quarter
Create E-mail Alert Related Categories
Hot List, Hot M&A, Mergers and AcquisitionsRelated Entities
UBS, RBC CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
