News: Macarthur again advises take no action

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Macarthur Coal Limited (ASX:MCC) has again advised shareholders to take no action in relation to the $5 billion takeover offer from Peabody Energy and ArcelorMittal.



Macarthur chairman Keith DeLacy told shareholders it will release its target’s statement later this month or early September outlining the deficiencies in the bidder’s statement.



Mr DeLacy says he has sought to remove a number of potentially misleading statements in the document. Some changes were reportedly made, but not all.

Macarthur Coal reported a net profit of $141 million for the half year ended December 31, 2010.