Macarthur Coal backs sweetened Peabody, Arcelor offer
Australia's Macarthur Coal has backed a slightly sweetened A$4.9 billion ($5.2 billion) takeover offer from Peabody Energy and ArcelorMittal .
Peabody and ArcelorMittal raised their offer by 3 percent to A$16 a share and will also add Macarthur's A$0.16 a share dividend, for a total offer value of A$16.16.
Macarthur bowed to the higher offer after fending off four takeover attempts over the past three years.