Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Peabody Energy and ArcelorMittal Take Majority Stake in MacArthur Coal

Just days after Citic Resources accepted Peabody Energy and ArcelorMittal’s $5 Billion takeover offer for just over 49% of Macarthur Coal, the pair have pushed their way to owning 59.85 percent of the coal company according to the New York Times.

Peabody Energy Corporation (NYSE:BTU)

Peabody Energy Looks Forward to Developing Macarthur Coal

In a statement given after the majority stake was announced Sunday night, Gregory H. Boyce, Peabody Energy’s CEO, said, “We are pleased to obtain a controlling interest in Macarthur Coal and look forward to advancing the company’s operating performance and growth initiatives.” The stake is considerably more than the 50.01% stake that Peabody and ArcelorMittal had identified as the minimum needed “to make the acquisition unconditional.”

Macarthur Coal and the Value of the Deal

The announcement of Peabody Energy and ArcelorMittal’s new majority stake comes just two days after Citic Resources, which owns 25 percent of Macarthur, “agreed to an increased $16 a share offer from Peabody and ArcelorMittal. The price will rise to $16.25 a share if the two companies can reach the compulsory acquisition threshold of 90 percent.” Macarthur Coal is valued at $4.9 billion.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!