UPDATE: Peabody Energy, ArcelorMittal and Macarthur Board Agree to Terms for Recommended Takeover of Macarthur Coal

Peabody Energy

and ArcelorMittal

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.