The directors of Macarthur Coal Ltd. (MCC.AU) on Tuesday urged shareholders to accept a sweetened A$4.83 billion takeover bid from Peabody Energy Corp. (BTU) and ArcelorMittal SA (MT).

The pair have raised their offer to A$16.00 for each Macarthur share from their previous offer of A$15.50 a share, Macarthur said.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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