news release
FOR IMMEDIATE RELEASE
PEABODY ENERGY, ARCELORMITTAL AND MACARTHUR BOARD
AGREE TO TERMS FOR RECOMMENDED TAKEOVER OF
MACARTHUR COAL
St. Louis, Luxembourg, August 30 (07:00 CET) Peabody Energy (NYSE: BTU) and
ArcelorMittal (NYSE: MT) today announced that PEAMCoal has agreed to terms with the
Macarthur board for a cash takeover of all outstanding shares of Macarthur Coal for A$16.001 per share, valuing the equity in Macarthur at approximately A$4.8 billion. All participating members of the Macarthur Board recommend that Macarthur shareholders accept the new
PEAMCoal offer.
« This is a major step forward in our acquisition process, » said Peabody Energy Chairman and
Chief Executive Officer Gregory H. Boyce. « We are pleased to have Macarthur, Peabody and
ArcelorMittal moving forward together to urge shareholders to accept this attractive premium.
We now look forward to completing this transaction in a timely manner. »
Aditya Mittal, CFO and Member of the Group Management Board at ArcelorMittal, said, « Our offer is the only offer before Macarthur shareholders, and we urge them to accept without delay and receive a substantial premium for their investment. »
PEAMCoal and Macarthur have entered into an implementation deed, which is attached to this announcement. The improved offer is subject to limited conditions as set out in section 11.7 of 1 Macarthur shareholders on the register on the record date of 2 September 2011 will also be entitled to receive the final dividend in respect of FY2011 of 16 cents per share with no reduction in the A$16.00 per share offer price. The final dividend will be paid to all shareholders of Macarthur on 9 September 2011.
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