Saturday, 20 Aug 2011
According to a Bloomberg report, Anglo American is contemplating a bid for Australia's Macarthur Coal that would challenge US coal company Peabody Energy's earlier offer for the Australian mining firm.
The Bloomberg report, citing an unnamed person with knowledge of the matter said that Anglo is looking into Macarthur's finances.
In July, Peabody, the largest US coal company, had teamed up with ArcelorMittal, the world's top steelmaker, to offer USD 5 billion for Macarthur Coal in a bid to secure its resources of pulverized coal, a key steelmaking ingredient.
(sourced from Bloomberg)
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