Anglo American mulls bid for Macarthur Coal

Click to follow
The Independent Online

Anglo American is considering entering the race to acquire Australia's Macarthur Coal, in another sign of the deal-making frenzy sweeping through the international mining sector. An offer, were it to be made, would put the FTSE 100-listed Anglo in competition with the steelmaker Arcelor Mittal and the US coal group Peabody Energy, which have taken their joint A$4.7bn (£2.9bn) bid direct to Macarthur shareholders after failing to win backing for it from its board.

Peabody and Arcelor are offering A$15.66 a share and turned hostile after the Macarthur board asked for A$16 a share, along with the rider that the price would rise to A$18 if the bid was backed by more than 90 per cent of shareholders.

Comments