The move will allow PEAMCoal, the joint venture entity of Peabody Energy Corp and ArcelorMittal, to control more than 49% of Macarthur Coal shares.
PEAMCoal will also increase the offer price for all shareholders from A$16 to A$16.25 ($16.57) per should it acquires relevant interests in at least 90% of Macarthur shares by 11 November 2011.
Reaching the 90% relevant interest threshold will allow PEAMCoal to compulsorily buy all outstanding Macarthur shares.
CITIC Group and CRH hold a combined 25.2% stake in MacArthur, which is a producer of pulverised coal used for steel making.
