0018 GMT [Dow Jones] Peabody (BTU) likely to revisit its previous bid for Macarthur Coal (MCC.AU) after failing to reach agreement on revised A$15/share bid a few months ago, says Southern Cross Equities. Notes that MCC has since retreated to low A$11 range as institutions thought MCC paid too much for MDL 164 tenement in Queensland state. But broker says MCC's most strategic assets for large rivals are its unallocated port infrastructure. Sees "great one week buying opportunity in MCC as stock is seeing forced selling from small cap fund managers after it was added to S&P 100 index." MCC up 4.5% at A$11.68. ([email protected]
MCC Price at posting:
$11.83 Sentiment: Buy Disclosure: Held
