Top US coal miner Peabody Energy has raised its offer for Australia’s Macarthur Coal by 8% to A$3.56 billion ($4.6 billion), after Macarthur rejected its first offer last week.
The move came as Peabody tried to thwart Macarthur’s plan to take over smaller rival Gloucester Coal in a deal that would make Singapore’s Noble Group Macarthur’s biggest shareholder with a 24.6% stake.
