Macarthur Coal Extends Offer For Gloucester Coal To May 13
28 Abril 2010 - 3:46AM
Noticias Dow Jones
SYDNEY (Dow Jones) Macarthur Coal Ltd. (MCC.AU) said Wednesday
it has extended its offer for Gloucester Coal Ltd. (GCL.AU) to May
13.
In a statement released after the market had closed, the company
confirmed its linked bid for Queensland-based miner Middlemount was
terminated but extended the time for Gloucester shareholders to
decide on the offer.
Macarthur had planned to buy both assets from Noble Group Ltd.
(N21.SG), a Hong Kong-based commodities trader, in exchange for
shares which would turn Noble into Macarthur's biggest
shareholder.
Macarthur is the target of a separate takeover offer from the
U.S.-based Peabody Energy Corp. (BTU).
Last week it gave Peabody access to a data room to conduct due
diligence as it considered its A$4.07 billion takeover bid, and
gave it until May 3 to come to a decision.
-By David Fickling, Dow Jones Newswires; 61-2-8272-4689;
david.fickling@dowjones.com
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