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...The last time bankers underwrote such a deal was when Goldman Sachs, Bank of America, BNP Paribas and Mizuho Bank agreed to provide £6.6bn of bridge loans to back Clayton, Dubilier & Rice’s take-private...
...“We believe Peabody is currently the best way to get exposure to these two themes while still managing downside risk,” said analyst Stephen Byrd....
...Coal miner Peabody fell 3.4 per cent to $36.95, while Cabot Oil & Gas lost 5 per cent to $81.49....
...The company expects to spend $6bn developing its own projects this year, a sum that exceeds Peabody’s Macarthur bid or Rio’s Riversdale bid. Anglo’s net debt was $6.8bn on June 30....
...Coal miners Alpha Natural Resources , down 11 per cent to $18.92, and Peabody Energy , off 8 per cent to $35.73, were particularly hard hit....
...Shares in the company, which has a $7bn market capitalisation, rose 6.6 per cent to $118.17 a share by lunchtime in New York trading on Monday....
...Peabody Energy and ArcelorMittal on Monday offered $5bn for Macarthur. Diageo lost 0.7 per centto £12.91 after a downgrade to “market perform” from Sanford Bernstein....
...Its shares gained 5.6 per cent to $1.88....
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