06Peabody Takes over Macarthur
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06Peabody Takes over Macarthur
The end of 2011 gave way to Peabody Energy acquiring Macarthur Coal Ltd . in a $ 4.7 billion takeover bid . With the help of mining company ArcelorMittal , Peabody was able to seal the deal and take over one of the biggest miners of pulverized coal . The deal also gave the pair ownership of mines in Queensland , the biggest exporter of the fuel . 42 October 2014