Peabody Energy (BTU), ArcelorMittal (MT) Agree to Takeover Macarthur in A$4.8B Deal
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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.
PEAMCoal and Macarthur have entered into an implementation deed, which is attached to this announcement. The improved offer is subject to limited conditions as set out in section 11.7 of PEAMCoal’s replacement bidder’s statement dated 15 August 2011, including minimum 50.01% acceptances and final regulatory clearance or expiry of the relevant waiting period.
PEAMCoal and Macarthur have entered into an implementation deed, which is attached to this announcement. The improved offer is subject to limited conditions as set out in section 11.7 of PEAMCoal’s replacement bidder’s statement dated 15 August 2011, including minimum 50.01% acceptances and final regulatory clearance or expiry of the relevant waiting period.
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