MCC macarthur coal limited
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  1. FNN News
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    12/08/11
    10:18
    Post #: 8813246
    .


    Peabody Energy and ArcelorMittal have been given approval by the Foreign Investment Review Board for Macarthur Coal Limited (ASX:MCC).



    The bidders say they’ve been given permission for the $5 billion takeover bid.



    Peabody took its bid directly to shareholders having failed to reach an agreement with the company’s board. Macarthur had advised shareholders to take no action on the $15.50 per share offer.



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

     


    MCC Price at posting: $15.15 Sentiment: None Disclosure: Held
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