takeover deal off

looks like the takeover deal is off...

Further to Macarthur Coal’s (ASX:MCC) announcement of 21 May 2008, the company advises that discussions with ArcelorMittal have ended. ABN 40 096 001 955
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The discussions with ArcelorMittal did not result in any proposal for a transaction being made by ArcelorMittal to the Board of Macarthur Coal.
Macarthur Coal Chairman, Keith De Lacy said, “It remains an exciting time for the coal industry globally, with a strong positive outlook. We welcome ArcelorMittal as a substantial shareholder and look forward to continuing our long term relationship with them as a major customer.
This situation has no impact on the day-to-day operations of Macarthur Coal. We will continue to focus on running and growing the business and delivering value to our shareholders.”
The Board continues to advise shareholders that they should have no regard to