Macarthur Coal

Morning round-up
9:24 am
Tue August 30, 2011

Morning headlines: Tuesday, August 30, 2011

St. Louis-based Peabody Coal and ArcelerMittal will buy Australian coal giant Macarthur Coal for $5.2 billion.
SLPRnews

Peabody Coal, ArcelorMittal to buy Australian coal giant

According to the St. Louis Business Journal, Australian coal giant Macarthur Coal has agreed to be bought by Peabody Energy and ArcelorMittal for $5.2 billion. St. Louis-based Peabody has pursued Macarthur for more than a year.

The Australian company is the biggest miner of pulverized coal, which is used in making steel and in great demand in Asia.

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