Management spent 2 long trying to play peabody over nhc and also waiting for more bidders, instead of entering early discussion on what was a handsome profit. Management new there was a chance of the mineral tax and should have seen this as a reason to accellerate the process.
With the uncertainty surrounding this im expecting peabody to come in with another lower offer before the dust settles .
Ann: MCC Further Proposal from Peabody , page-10
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