Macarthur Coal rebuffed Peabody Energy's (BTU) second bid to acquire the company, saying the...

|About: Peabody Energy Corp. (BTUUQ)|By:, SA News Editor

Macarthur Coal rebuffed Peabody Energy's (BTU) second bid to acquire the company, saying the A$14/share offer was unattractive. Macarthur recommended its shareholders back an alternative plan to take over smaller rival Gloucester Coal, and give a 25% stake in Macarthur to Gloucester's main shareholder, Noble Group (NOBGF.PK).