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Macarthur weighs US$3.8b bid, to hold talks with Peabody.
SYDNEY: Australian coal miner Macarthur said yesterday it was considering a US$3.8 billion (US$1 = RM3.21) takeover offer from US energy group Peabody, in a move which could end a fast-moving bidding war.
Macarthur said it was not recommending the bid but in a crucial sign postponed a shareholder meeting scheduled for Monday that was designed to seek approval for its takeover of fellow Australian miner Gloucester Coal Ltd.
"The board of Macarthur has considered Peabody's further proposal and intends to enter discussions with Peabody," the company said in a statement.
Macarthur has been at the centre of a takeover tussle recently, with Peabody and Australian …
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