AUSTRALIA Peabody and ArcelorMittal increase efforts to buy Macarthur

摘要

Peabody Energy and ArcelorMittal, the world's biggest steelmaker, have launched a hostile takeover bid for Macarthur Coal after discussions between the companies broke down at the end of July. PEAMCoal Pty a joint venture that is 60% owned by Peabody and 40% by ArcelorMittal, is seeking a minimum 50.01% stake in Macarthur Coal, the world's largest producer of pulverised coal for steelmaking. Peabody currently owns a 16.1% stake in the Australian coal company. Macarthur has been a target of takeover bids for more than a year, as rapid industrialisation in Asia creates a huge demand for more steel for infrastructure.