Peabody appoints Macarthur leadership team
Oct 26, 2011 | 06:04 PM
| Lisa Gordon
Tags
metallurgical coal,
PCI coal. Peabody Energy,
ArcelorMittal,
Gregory Boyce,
Lisa Gordon
PITTSBURGH — Peabody Energy Corp. is moving on quickly without ArcelorMittal SA in its planned takeover of Macarthur Coal Ltd., appointing a leadership team within 24 hours after ArcelorMittal backed out of the joint-venture bid.
PEAMCoal Pty Ltd, a joint venture created by St. Louis-based miner Peabody and the Luxembourg-based steelmaker to acquire the world’s largest producer of seaborne, low-volatility pulverized injection coal, had just acquired the necessary controlling interest in Macarthur when ArcelorMittal announced it was selling its share to Peabody (AMM, Oct. 26).....
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