in the australian today

The way I see it, nothing under $20 offer, is going to solve their takeover, problem, the following is from the australian,today:


Each of them acquired their positions at $20 a share and would seem, at very best, to be unlikely sellers in the short term.

What Peabody has proposed to them is a scheme that would effectively take Macarthur private, with Peabody becoming the major shareholder and the others tagging along for the long-term strategic ride -- or, potentially, I suppose -- bailing out once circumstances justified a price that better matched their entry prices.