Peabody Takes over Macarthur

The end of 2011 gave way to Peabody Energy acquiring Macarthur Coal Ltd. in a $4.7 billion takeover bid. With the help of mining company ArcelorMittal, Peabody was able to seal the deal and take over one of the biggest miners of pulverized coal. The deal also gave the pair ownership of mines in Queensland state, the biggest exporter of the fuel.