New Offer is $16 a share
American miner Peabody Energy has upped its takeover offer for Australian coking coal miner to $16 a share. The offer values Macarthur at $4.1 billion and is Peabody’s third bid for the company.
In its bid, Peabody said it is “clearly superior” for Macarthur’s shareholders to accept their offer rather than taking over Gloucester Coal.
Meanwhile, Gloucester Coal itself says it has doubled the prices it has achieved to US$180 a tonne compared to US$90 a tonne last year.
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