MELBOURNE, July12(Reuters) - Australia's New Hope Corp is unlikely to enter a bidding war for Macarthur Coal , a source with direct knowledge said on Tuesday.
Peabody and ArcelorMittal announced a $5 billion takeover offer for Macarthur Coal on Monday.
New Hope bid against Peabody Energy for Macarthur last year but has since acquired coal explorer Northern Energy .
"Now that they have acquired Northern Energy that's going to keep them pretty busy," the source told Reuters.
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