Peabody Energy and ArcelorMittal announced that CRH and CITIC Group have confirmed that they intend to accept the AUD 16.00 all cash takeover offer for Macarthur Coal Ltd.

With these acceptances, PEAMCoal will control more than 49% of Macarthur Coal shares, and intends to declare the offer unconditional upon obtaining control of 50.01% of Macarthur shares.

PEAMCoal also announced that it will increase the offer price for all shareholders from AUD 16.00 to AUD 16.25 per share if PEAMCoal acquires relevant interests in at least 90% of Macarthur shares by 7:00 PM Brisbane time on 11 November 2011. PEAMCoal reserves the right to extend this date.