The total value to be received by Macarthur shareholders of up to A$15.66 per share represents a substantial premium of:
- 41% to A$11.08 per share, the closing price on July 11, the day Peabody and ArcelorMittal’s approach was disclosed to the market;
- 45% to A$10.82 per share, the one-month VWAP to July 11;
- 38% to A$11.32 per share, the three-month VWAP to July 11; and
- 30% to A$12.02 per share, the twelve-month VWAP to July 11.