Peabody Energy

Peabody Slashes Macarthur Coal Bid


Peabody Energy, the US based coal company has lowered its bid by as much as $300 million for Australia based Macarthur Coal (MCC), which is being considered as a sign that the Australian miners are losing their value in the market due to the super-profits tax proposed by the government. The reviewed Peabody deal is expected to be “knocked back” by the major Macarthur shareholders.

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