Citic Group
China based Citic Group, the largest stakeholder of Macarthur Coal (MCC), has finally put the brakes on the $3.8 billion worth of Macarthur takeover bid submitted by US based Peabody Energy. Macarthur board turned down the offer after discussing the proposal with its key investors. The move led to a massive 15.75 percent drop to the miner’s share price which wiped off as much as $500 million from its capitalisation.
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- Commonwealth Bank of Australia (CBA)
- National Australia Bank (NAB)
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