Mon Jul 11, 2011
SYDNEY, July 11 (Reuters) - Peabody Energy and Arcelor Mittal have offered to buy Australian coal miner Macarthur Coal valuing the firm at A$4.7 billion $5.05 billion) or at a 40 percent premium to Monday's close.
Macarthur said the proposal was conditional on receiving regulatory nod and getting 50.01 percent stake.
Macarthur asked shareholders to take no action and added it would speak with Peabody and Arcelor Mittal on price and terms.
The offer would be made at A$15.50 a share minus the final dividend. The stock closed at A$11.08 on Monday.
Macarthur is being advised by JPMorgan and Corrs Chambers Westgarth ($1 = 0.930 Australian Dollars)
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