With this approval, all necessary regulatory conditions to the completion of PEAMCoal’s offer have now been received by the companies.
Peabody chairman and CEO Gregory Boyce said this action from MOFCOM now clears the way for the companies to complete this transaction in a timely manner.
PEAMCoal also said it has established an institutional acceptance facility (IAF) to provide greater flexibility for institutional shareholders to accept the offer.
The IAF, which will be operated by UBS, allows eligible institutional Macarthur investors that do not wish to accept the offer until it has become unconditional to indicate their intention to accept prior to the offer becoming unconditional.
Macarthur Coal is a producer of low-volatile PCI metallurgical coal with production and development assets in the Bowen Basin, Australia.
