Japan OK's Peabody-ArcelorMittal bid for Macarthur: MarketWatch | Asia Stocks
By David Fickling
SYDNEY (MarketWatch) -- Japan's Fair Trade Commission has approved the joint Peabody Energy Corp.
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-ArcelorMittal
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bid for Macarthur Coal Ltd. (MCC.AU), which values the Australian miner at A$4.73 billion, the bidders said Thursday.
The approval fulfils one of several conditions standing in the way of
the bid, the companies said, although similar approval is still being
sought from China's Ministry of Commerce.
Macarthur is the world's largest producer of pulverized coal injection
coal, or PCI, a low-cost form of the coking coal used in steelmaking.
Japan is one of the biggest consumers of
