Macarthur Coal Provides Peabody Access To Data Room
April 22 2010 - 11:06PM
Dow Jones News
Macarthur Coal Ltd. (MCC.AU) said Friday it has granted Peabody
Energy Corp. (BTU) access to a data room to conduct due diligence
after the U.S. coal group's sweetened A$4.07 billion takeover
offer.
Peabody has until May 3 to carry out its due diligence review of
the company and its metallurgical coal mines in Queensland state,
Macarthur Coal said in a statement.
Macarthur said it remains bound by the restrictions contained in
the implementation agreement for its planned bid for Gloucester
Coal Ltd. (GCL.AU), despite that deal looking to be dead after
shareholders in Gloucester's majority owner Noble Group Ltd.
(N21.SG) voted against the transaction.
-By Alex Wilson, Dow Jones Newswires: 613-9292-2094;
alex.wilson@dowjones.com
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