Macarthur Coal ends the week with its allure as a takeover target undiminished.
The latest bid comes from Australian miner New Hope Corp, which has put forward a deal valuing Macarthur shares at $14.58, for a company total value of $3.71 billion.
Earlier this week Macarthur rejected a $14-a-share ($3.5 billion) takeover offer from US-based Peabody Energy, dismissed as being neither binding nor definitive.
Macarthur’s directors have requested shareholders do nothing until the board has had time to review this latest offer. The directors are yet to decide on whether or not to postpone Monday’s shareholder meeting, in which the proposed merger with Gloucester Coal would considered.
Macarthur Coal
ASX Code: MCC
New Hope Corp
ASX Code: NHC
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