macarthur coal receives $5.1b proposal, page-3

This is a very opportunistic move and will be knocked back by MCC board. They chose to announce the T.O the day after the carbon tax was announced.

The fact is in less than 2 years time, Abbott will be Prime Minster, the carbon tax will be no more and the Labor party tossed out of office.

MCC board will and should demand a higher premium.

They should follow in the foot step of NEC who told New Hope to take a hike and got a better offer.

Again, I don't think Peabody really thinks $15.50 is the first and last bid.