Arab Today, arab today macarthur no to 52 billion bid
Last Updated : GMT 05:27:22
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Macarthur: No to $5.2 billion bid

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Arab Today, arab today Macarthur: No to $5.2 billion bid

St. Louis - UPI

Australian mining company Macarthur Coal Ltd. over the weekend said no to an unsolicited $5.2 billion bid from a pair of industrial giants.The bid, a 40 percent premium over Macarthur\'s recent stock market value, was the second time in as many years that Peabody Energy Corp. of St. Louis attempted to buy the coal-mining company. This year, however, Peabody strengthened its bid with support from steelmaker ArcelorMittal, the St. Louis Post-Dispatch reported Monday.Peabody is attempting to expand its presence in Australia, which has plenty of coal and is close to emerging Asian markets, the newspaper said.

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