ArcelorMittal pulls out of Macarthur takeover

THE world’s largest private coal company, Peabody Energy, will swallow up Queensland coal producer Macarthur Coal on its own after joint bidder ArcelorMittal found the $A4.6 billion price tag too high to stomach.

ArcelorMittal pulls out of Macarthur takeover ArcelorMittal pulls out of Macarthur takeover ArcelorMittal pulls out of Macarthur takeover ArcelorMittal pulls out of Macarthur takeover ArcelorMittal pulls out of Macarthur takeover

Macarthur major shareholder CITIC’s decision to accept the $16 per share offer last week meant that the joint bidding vehicle PEAMCoal would need to outlay more funds to complete the takeover.

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