4/6/2010-Peabody Energy (NYSE:BTU), the largest US coal company, boosted its offer for Macarthur Coal Ltd., as it battles Noble Group for Australian coal assets to supply China’s rapidly growing economy.
Peabody’s CEO Gregory Boyce today raised its bid to A$14 per share after Macarthur rejected last week’s A$13 offer as undervaluing the company’s stock.
The all-cash offer values the company at $3.27 billion USD.
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