The world’s largest blast furnace coal injection producer, Australia’s MacArthur Coal Company, issued a statement on August 30 stating that ArcelorMittal, the world’s largest steel producer, and Peabody Energy, the largest coal producer in the United States, have made joint acquisitions. The MacArthur Coal Key Terms agreed to increase the bid from the previous A$15.50 per share to A$16 per share and raise the total tender offer price to A$4.9 billion.
MacArthur Coal said that since July 11 the other party's first offer so far, although in the future there may be more favorable quotes, but as yet has not happened. The company’s board of directors has recommended the above offer to all shareholders.
Analysts said that if the deal is successfully implemented, it will be the second largest purchase in the global coal industry in 2011, and the transaction size is second only to the purchase price of Macy's Energy Company's US$7.1 billion in June by Alpha Natural Resources. So far in 2011, the global coal industry has reached nearly 50 M&A transactions with a total value of over US$20 billion.
MacArthur Coal said that since July 11 the other party's first offer so far, although in the future there may be more favorable quotes, but as yet has not happened. The company’s board of directors has recommended the above offer to all shareholders.
Analysts said that if the deal is successfully implemented, it will be the second largest purchase in the global coal industry in 2011, and the transaction size is second only to the purchase price of Macy's Energy Company's US$7.1 billion in June by Alpha Natural Resources. So far in 2011, the global coal industry has reached nearly 50 M&A transactions with a total value of over US$20 billion.
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