Australia New Hope: no plans to up Macarthur bid for now

PERTH, April 15 (BestGrowthStock) – Australian coal miner New Hope
Corp (NHC.AX: ), locked in a takeover tussle against for local
rival Macarthur Coal Ltd (MCC.AX: ), has no plans to sweeten its
$3.4 billion offer for now, its chairman said on Thursday.

New Hope Chairman Robert Millner told Reuters the firm
plans to wait for outcome of the Macarthur’s shareholder vote
on Monday for the proposed takeover of smaller local rival
Gloucester Coal (GCL.AX: ).

“We will wait and see. We have no plans to improve our
offer in the meantime,” Millner said.

Peabody Energy (BTU.N: ) on Thursday raised its offer for
Macarthur by 14 percent to $3.8 billion, in what could be a
knockout blow in the bidding war for the Australian miner.

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(Reporting by Fayen Wong; Editing by Koh Gui Qing)

Australia New Hope: no plans to up Macarthur bid for now