Wednesday, 13 Jul 2011
Macarthur Coal Ltd surged the most in 10 years in Sydney trading following a AUD 4.7 billion takeover proposal from ArcelorMittal and Peabody Energy Corp.
As per report Macarthur rose 37% to AUD 15.14 at the 4:10 PM. close, the most since July 5th 2001.
Mr Cameron Peacock market analyst at IG Markets Ltd said that “The structure this time makes it more likely the deal will go ahead. The board would have a hard time going to their shareholders and not recommending this.”
(Sourced from Bloomberg)
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