Macarthur Coal spurns a $3.5B bid from Australian rival New Hope, saying it will continue to...

|By:, SA News Editor

Macarthur Coal spurns a $3.5B bid from Australian rival New Hope, saying it will continue to move forward with a plan to take over Gloucester Coal in alliance with Noble Group (NOBGF.PK). Macarthur had already rejected an earlier $3.45B bid from New Hope, and a $3.3B bid from Peabody (BTU).