Cash of the Titans

PEABODY Energy needs to find about $A2.5 billion in extra debt funding to proceed with its cash takeover offer for Macarthur Coal, says Patersons Securities coal analyst Andrew Harrington, while Noble Group is cashed-up enough to go to war.

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The major US coal producer ended 2009 with a $US988.8 million ($A1.06 billion) cash position, while commodities trader Noble ended with $937 million.

But Noble also has up to $1.

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