Peabody Energy Corp. (BTU) will start compulsory acquisition of the remaining shares in Macarthur Coal Ltd. (MCC.AU) and raise its offer price by 25 cents to A$16.25 per share, after the world's largest private sector coal miner hit a 90% shareholding in the company.

In a statement to the Australian Securities Exchange, Peabody Chief Executive Gregory H. Boyce said: "We are very pleased to be acquiring 100% of Macarthur shares, which brings clear strategic and financial benefits."

Peabody has made several separate bids for the company over a 20-month period. Macarthur is the world's largest producer of the pulverised coal used as a low-cost input in some steelmaking blast furnaces.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

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