Aussie Stocks – Shares News
Aussie Stocks – Shares News
Shares News Macarthur Coal (MCC) 18 May 2010Aussie stocks Macarthur Coal Limited (MCC) is the largest low volatile pulverized coal producer in the Aussie Market which exports its products to leading steel producers.
MCC has rejected Peabodys revised offer of $15 cash per MCC share.
MCC advised that it will not enter into further discussions with Peabody based on the current proposal.
After months of takeover posturing, it appears that MCC is set to continue in its current form; unless Peabody revises its offer or a third party decides to throw its hat in the ring.
MCC Aussie share price plunged approximately 14.5%, settling at $11.25 a share.